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Malaysia-based retail technology company <a href="http://dealstreetasia.com/tag/StoreHub" target="_blank" rel="noopener">StoreHub</a> has announced the close of a $5.1-million Series A financing round led by <a href="http://dealstreetasia.com/tag/Vertex-Ventures" target="_blank" rel="noopener">Vertex Ventures</a>, according to a media release.</article>

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Malaysia-based retail technology company <a href="http://dealstreetasia.com/tag/StoreHub" target="_blank" rel="noopener">StoreHub</a> has announced the close of a $5.1-million Series A financing round led by <a href="http://dealstreetasia.com/tag/Vertex-Ventures" target="_blank" rel="noopener">Vertex Ventures</a>, according to a media release.
The round saw participation from <a href="http://dealstreetasia.com/tag/Cradle-Seed-Ventures" target="_blank" rel="noopener">Cradle Seed Ventures</a>, <a style="color: #000080;" href="http://dealstreetasia.com/tag/Accord-Ventures" target="_blank" rel="noopener">Accord Ventures</a> and <a style="color: #000080;" href="http://dealstreetasia.com/tag/Fintonia-Group" target="_blank" rel="noopener">Fintonia Group</a>. Investment proceeds will fund regional expansion in Southeast Asia, talent acquisition and product development.
Vertex Venture Holdings Ltd, a member of Temasek Holdings, is an early investor in technology majors such as Grab, Reebonz and Patsnap.
StoreHub provides a cloud-based iPad Point-Of-Sale (POS) system that enables small and medium enterprises (SMEs) such as retailers, boutiques, grocery stores and cafes to manage and grow their business, from anywhere with an internet connection.
In a statement, founder and CEO Wai Hong Fong, said, &#8220;As online retailers continue to develop and challenge brick and mortar stores, the urgency to improve and adopt technology is starting to be felt &#8211; and that’s where StoreHub comes in. Our cloud-based platform enables SME retailers to compete in a fast-changing retail landscape, by making much-needed technology accessible from a cost and ease-of-use perspective.”
The team of 80 staff operates from offices in Kuala Lumpur, Bangkok, Manila and Shanghai. The latest infusion of growth capital will see it expand its presence in its main markets of Malaysia, Philippines, and Thailand, and also venture into other markets in the region.
It also plans to double its team size in the next 12 months, with plans to launch other products and features that will help traditional brick and mortar retailers have an online presence and utilize digital marketing to grow their business.
Also Read:
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<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/asia-digest-takeda-co-leads-49-5m-round-in-obsidian-vertex-backs-launchdarkly-87950/">Vertex Ventures joins funding rounds of US startups Obsidian and LaunchDarkly</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/wip-china-digest-sdic-backed-by-chinese-state-owned-investment-firm-participates-in-a-76m-financing-in-biotech-pharma-company-86613/">China Digest: SDIC joins Zensun Shanghai round; Vertex Ventures backs Neiwai</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/malaysia-cradle-seed-ventures-20m-second-fund-83990/">Exclusive: Malaysia’s Cradle Seed Ventures set to launch $20m second fund</a>
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Malaysian cloud retail platform StoreHub has raised $5.1 million in Series A financing in a round led by Vertex Ventures that will fund its ASEAN expansion.

Vertex Ventures leads $5.1m Series A in Malaysian PoS startup StoreHub

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Vertex Ventures leads $5.1m Series A in Malaysian PoS startup StoreHub

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