India: Conversational commerce startup Yalo raises $50m in Series C round

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Conversational commerce platform, Yalo, on Wednesday said that it has raised $50 million as a part of its Series C round of financing, led by existing investor B Capital Group, a venture capital firm co-founded by Facebook founder Eduardo Saverin.

With this, the total funding raised by the startup stands at $75 million, till date.

Yalo, which has operations in the US, Mexico, Brazil and India, will use the financing to deepen its presence in Latin America and Southeast Asia, while funding new product development, including conversational marketing and payments solutions.

The six-year-old startup enables businesses in emerging markets to do commerce on top of the messaging apps. The Yalo platform allows companies the ability to run their sales and customer service workflows on top of messaging.

“Yalo has become the leading conversational commerce company, revolutionizing the way large enterprises engage with their customers and enabling them to transact through chat applications. We have been impressed with their execution and are very pleased to expand our relationship with them by leading their Series C round.” said Saverin, who previously co-founded Facebook.

Currently, Yalo’s clientele includes Unilever, Nestle, Coca-Cola and Walmart.

In Latin America alone, the startup is supporting companies with a combined customer base of 350 million and sales volume of $81 billion.

“Conversational commerce is rapidly becoming e-commerce 2.0 by enabling brands to connect critical business systems with consumers on messaging apps, where they already spend 84% of their phone time, particularly in our core markets of Latin America, India and Southeast Asia. We will use this round of financing to fund the development of new conversational commerce products and add further value for our global customers,” said Javier Mata, founder and chief executive officer of Yalo.

Yalo claims that its technology is platform-agnostic and can be embedded in any messaging app, making it extremely convenient for companies to be where customers are. Yalo’s conversational commerce platform, which includes marketing, helpdesk, and payments solutions, allows companies to run their most critical operations, such as sales, on top of messaging apps. With Yalo Studio, the company also allows non-developers and partners to create their own conversational-commerce applications.

According to a BCG report, conversational commerce is already a $35 billion market with the potential to reach $130 billion by 2025 in emerging markets.

This article was first published on livemint.com.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.