<article>Singapore-based <a style="color: #000080" href="https://megafash.com" target="_blank">MegaFash</a>, a marketplace for independent local brands launched in 2013, is looking to raise a Series A round.</article>

Singapore-based <a style="color: #000080" href="https://megafash.com" target="_blank">MegaFash</a>, a marketplace for independent local brands launched in 2013, is looking to raise a Series A round.
The capital raised will fuel regional expansion and talent acquisitions efforts, as business traction builds for the Singaporean venture. The company has also articulated plans to acquire smaller regional players, though has not publicly elaborated on which entities these may be. The venture closed a $320,000 seed round in August 2013, which was led by <a style="color: #000080" href="http://www.dealstreetasia.com/?s=East+Ventures">East Ventures</a>. For FY 2014, the marketplace reported revenues in the region of $500,000.
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Given such growth, it now seeks to expand into the Indonesian market, which has seen a boom in its e-commerce space. <a style="color: #000080" href="http://www.dealstreetasia.com/?s=Rocket+Internet">Rocket Internet</a> brands like Lazada, as well as other portfolio firms, are strong competitors that have established their market presence in Indonesia.
Since its launch, Megafash has focused on highlighting and showcasing Singaporean brands on its digital marketplace, which they felt was lacking the region. Featuring independent brands from other regional countries like Malaysia and the Philippines, it initially launched with a business model reliant on bootstrapping over external investments. More recently, its subscription-based revenue model shifted over to a commission-based model, with 10 percent on all sales.
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MegaFash operates on the assumption that Singaporean consumers wish to purchase and support local brands through the platform. The fundamental reason? Their uniqueness and difference, especially contrasted against international brands available in the city-state and the wider region.
Two Singaporean fashion retailers who&#8217;ve gained success on the MegaFash platform are <a style="color: #000080" href="http://www.dressabelle.com.sg" target="_blank">Dressabelle</a> and the <a style="color: #000080" href="http://thescarletroom.com/" target="_blank">TheScarletRoom</a>. With MegaFash providing a platform where smaller brands grow their business and build greater traction in the market, Ngeow summed up MegaFash&#8217;s role as &#8220;&#8230;take their products and pour gasoline on the efforts&#8221; in <a href="http://e27.co/exclusive-megafish-plots-multi-million-series-acquisitions-20150211/" target="_blank">comments to Singapore tech blog e27</a>.
With Rocket Internet aggressively expanding into the e-commerce space and backing the growth of many of their own e-commerce ventures, promoting international brands to the Asian consumers across emerging markets in Southeast Asia, they&#8217;ve overlooked many strong local brands that maintain a compelling value proposition to local consumers.
It is this overlooked category that MegaFash intends to capitalise upon. With current investment trends spurring further growth and investments into the Indoensian e-commerce space, MegaFash looks well-positioned to grow its market share in the region in the near-future.
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MegaFash, a marketplace for independent local brands launched in 2013, is looking to raise a Series A round to fuel regional expansion and talent acquisitions efforts.

Singapore's MegaFash plans regional exansion via acquisitions

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