Thai online marketplace Blisby raises $300k from East Ventures, DeNA, 500 Startups

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Thailand’s artisan online marketplace Blisby.com has raised $300,000 fund from a group of investors, and plans to used these funds for expansion into other ASEAN countries, promote Blisby products and sellers at an international level and to create new features for users.

Blisby’s founder Phuvadol Thongthavorn announced that the fund raising was led by East Ventures and DeNa, joined by 500 Startupsfunds- 500 Tuk Tuks and 500 Durians.

According to Thongthavorn, Thailand’s culture is steeped with beautiful traditional arts and crafts and Blisby was created as a place where the old and the new ideas meet. “I thought if I could build this online community and tools that the users need, I can step aside and the community will nurture itself,” he said.

Also read: 500 Startups to launch $10m Thailand-dedicated fund

He says that he was surprised at the number of investors showing interest in Blisby, a few months after its launch. Before this funding, Blisby had joined Google Developers Startup Launch Program in February and also got awarded $100,000 in Google Cloud Platform credits.

In March, it claimed that it had 350,000 monthly active users with 1 million monthly pageviews with a growth of 20 per cent every month.

“The model is obviously not a new one, but what stood out about Blisby was the CEO. When I invest in a company, I like to ask myself whether I would want to work for the founder. In Phuvadol’s case, the answer was ‘yes, definitely’,” said James Riney from DeNA.

Thongthavorn said that the company was analysing the overseas markets and it was possible to start from Indonesia or Malaysia. At the same time, he will focus on developing features, tools and adding value to attract targeted users who sell their products on other marketplaces such as Etsy, Facebook and IG.

Also read: Oddle secures $718k in funding round led by East Ventures