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Shopmatic Set to Turn Cash Positive in 2021

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Achieves revenues of over $7M in 9 months (Apr-Dec 2020) while being EBITDA positive in line with its aim to be a $100M business by 2024

 

The Singapore based e-commerce enabler is in advanced discussions to close a Series B fund raise to fuel its aggressive growth plans

 

SINGAPORE – Media OutReach – 12 January 2021 – Shopmatic, leading international e-commerce enabler has registered revenues of over S$7M in 9 months – Apr-Dec2020 exceeding its targets by 40%. Riding on an upward trajectory with its recently launched range of tech-enabled solutions for the countries’ SME and entrepreneur sectors, Shopmatic turned EBITDA positive – a year earlier than originally projected.

 

The Company witnessed great demand from customers in Singapore, India, Malaysia & Hong Kong a testament to the digital wave which has been accelerated due to the effects of COVID-19.

 

In April 2020, when the initial faltering of the economy was felt due to the pandemic, Shopmatic focused its efforts on providing managed solutions through one of its locally acquired companies- CombineSell Pte Ltd. This move was to help move Singapore’s SMEs offline to online by providing them an opportunity to outsource their digital team.

 

In May 2020, Shopmatic introduced a special solution for grocery/ ‘kirana’ stores to go online – and found great adoption from businesses across India and Singapore.

 

The company witnessed 80 percent growth over the July-September quarter in transactions and GMV compared to the previous quarter, another testament to the digital wave, that fuelled e-commerce adoption by SMEs.

 

In December 2020, Shopmatic launched a whole new range of eCommerce solutions allowing individual entrepreneurs and SMEs to choose from 4 different ways to eCommerce via Shopmatic Chat, Shopmatic Social, Shopmatic Webstore, and Shopmatic Marketplaces.

During the last 9 months, Shopmatic as a group has enabled over 5000 Singaporean businesses to digitise and generate significant customer revenues by helping businesses sell through marketplaces, social media commerce, and their webstores.

 

The Company is now planning to expand to other countries in South East Asia this year and is in advanced discussions with several investors, for a Series B Fund Raise.

Speaking on what 2021 holds for Shopmatic, Mr. Anurag Avula, CoFounder & CEO, Shopmatic, said, “We are very happy that we were able to close 2020 on a hugely positive note and are now able to step into 2021 with even more aggressive plans to digitise local businesses and entrepreneurs in Singapore, India, Malaysia & Hong Kong.

We continue to make significant investments behind key resources to be able to drive our organisation to the next level and expand footprint into new markets in South East Asia. At Shopmatic, our focus is to build a sustainable & profitable business and we are delighted that we’ve been able to reach this significant milestone a year ahead of plan.”

“Very few companies have the tenacity and drive that the Shopmatic team has displayed, ever since it started. We are very impressed with the way the Company has been shaping up and investing behind innovations to help entrepreneurs digitise their business. The opportunity for digitalizing SMEs is now greater than ever and August One is proud to continue our support for Shopmatic in their next round of funding and beyond.” said Sameer Narula, Managing Partner, August One.

 

As an e-commerce solutions provider, Shopmatic brings several elements of the e-commerce landscape onto a single platform to help SMEs and individual entrepreneurs take their businesses online. From creating a customized online store, selling through social & chat commerce, selling on multiple marketplaces with integrated global payment options and shipping solutions, creating & promoting digital advertising, Shopmatic makes it easy for anyone to sell online. 

What started as a 3 member founding team, has now grown to a 120 member global team operating in India, Singapore, Malaysia, Hong Kong and other markets. The Company continues to drive innovation in e-commerce and promises to announce more offerings on its platform in the near future.

About Shopmatic

Founded in December 2014, Shopmatic has been driving game-changing solutions in the eCommerce space and has engineered itself to stay focused on helping its customers succeed.

It is the only e-commerce enabler to offer 4 different ways for businesses to do e-commerce- Shopmatic Chat, Shopmatic Social, Shopmatic Marketplaces and Shopmatic Webstore.

 

Under its disruptive transaction model, Shopmatic charges an annual hosting fee of SGD1/INR 50 and 3% of each successful transaction, while giving merchants access to the full-spectrum of omnichannel features to help them grow their business.

 

With several acquisitions – CombineSell in October 2019 and Octopus Retail Management in March 2019 – and partnerships PayU, OnlineSales.ai, UOB, Singapore and CIMB Bank, Malaysia  Shopmatic aims to give a greater chance to SMEs to enhance their omnichannel presence and conduct seamless business transactions online and offline through cutting-edge retail technologies.

 

From domain names to easy integrations with domestic and international payment gateways and shipping partners to getting discovered via a unique, curated platform- Shopmatic World & multiple marketplaces, to POS, Inventory Management, and CRM solutions, Shopmatic helps business owners manage the full spectrum of what is required to grow their business.

 

Shopmatic is headquartered in Singapore with a presence in India, Hong Kong, & Malaysia. The company is expanding to the rest of South East Asia, this year. 

 

During the COVID-19 lockdown, Shopmatic introduced tailored solutions for India’s Kirana stores, enabling them to create an online presence with pre-developed catalogs to help them create web-stores easily without the need for technical know-how or design experience. The platform also offered easy inventory management, secure and instant online payments, contactless delivery, and self-pickup options.

For more information on the Shopmatic Group, please visit www.goshopmatic.com

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Thrive in Abu Dhabi programme launched to encourage global talent, investors to build their futures in the emirate

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Long-term visas and paths to citizenship to accelerate growth in Abu Dhabi’s priority sectors

 

SINGAPORE – Media OutReach – 23 February 2021 – Talented professionals and students, and investors, in priority sectors are being encouraged to set down roots with their families in Abu Dhabi as part of a new programme that supports the emirate’s strategy to develop key areas such as culture, healthcare, research and development (R&D) and real estate.

Thrive in Abu Dhabi highlights the long-term visas and paths to citizenship available for expats working, creating, studying, excelling or investing in priority sectors that empower them to build their futures in a safe, welcoming and supportive environment, while contributing to Abu Dhabi’s sustainable development.

Creative talent are encouraged to be part of a global arts and culture hub, join the emirate’s dynamic media and entertainment industry, or support the development of our understanding of the past among fellow academics, conservators and archaeologists.

The creative visa builds on Abu Dhabi’s five-year Culture Sector Strategy for Abu Dhabi, unveiled in November 2019 by the Department of Culture and Tourism, which covers five strategic objectives: preserve and sustain Abu Dhabi’s cultural heritage; increase awareness of, and engagement with, cultural heritage and the arts; stimulate creativity as a driver for education and social change; build and enable capacity in Abu Dhabi’s culture sector; contribute to economic growth and diversification.

Abu Dhabi has a thriving cultural and creative sector with strong global credentials, including world-class museums, arts centres, art fairs, music concerts, and a grassroots artistic community. These include Louvre Abu Dhabi, Manarat Al Saadiyat, Warehouse241, Abu Dhabi Art annual fair, Qasr AlHosn and Cultural Foundation and the forthcoming Zayed National Museum and Guggenheim, as well as international educational institutions supporting students to excel in creative industries: NYU Abu Dhabi, Sorbonne Abu Dhabi, Berkley College and CNN Academy.

Students with a PhD or promising scientific ability at either high school or university level can expand their horizons and ensure exciting career paths by studying at one of a collection of world-class academic institutions in Abu Dhabi, including NYU Abu Dhabi, Sorbonne Abu Dhabi and Khalifa University, which in January 2019 was ranked 13th out of 442 universities from 43 countries in the Times Higher Education Emerging Economies University Rankings.

Students can learn the skills of the future, including in specialist areas such as AI, at the new Mohamed bin Zayed University for Artificial Intelligence, or coding at the innovative coding school 42 Abu Dhabi. They can participate in pioneering research in areas related to Covid-19 and AgTech at UAE University, or focus on tolerance and coexistence at the world’s first university dedicated to human fraternity, the Mohamed bin Zayed University for Humanities.

Thrive in Abu Dhabi invites innovators to turn their idea into reality – with access to funding and incentives – as part of a dynamic R&D ecosystem that is pioneering new technologies to solve the global challenges of the future, from water security to food technology.

The emirate is focused on fostering a thriving R&D ecosystem that brings together all relevant players, including academic institutions, research institutes and the private sector. In 2020, Abu Dhabi launched the Middle East’s first research council, the Advanced Technology Research Centre (ATRC). It includes the Technology Innovation Institute, whose seven pillars are quantum research, autonomous robotics, cryptography, advanced materials, digital security, directed energy and secure systems.

As part of Abu Dhabi’s accelerator programme, Ghadan 21, the Department of Education and Knowledge has launched academic research grants to award AED40 million in competitive research funding to support R&D. Abu Dhabi’s economic investment strategy is also focused on attracting innovation-led companies that are focused on R&D. For example, all AgTech firm investments by Abu Dhabi last year included significant R&D set-ups.

Investors, including entrepreneurs, can tap into major opportunities by expanding their business in key sectors including five ‘growth sectors’ identified by ADIO — financial services, ICT, health services and biopharma, AgTech, and tourism — as well as real estate. Long-term visas also empower expats to invest in their “forever home” in an attractive real estate market where they can plan to retire.

Start-ups are receiving significant support, with Abu Dhabi emerging as a global start-up hub, particularly for future technologies such as FinTech, AgTech, HealthTech and EdTech. Ghadan 21 has accelerated the ecosystem’s development by supporting start-ups and SMEs through initiatives such as Hub71, a global start-up ecosystem that is now home to more than 100 start-ups, Ventures Fund (managed by ADQ) and SME Credit Guarantee and SME supply chain financing initiative.

Those who excel in areas such as sport, healthcare, science, education or engineering are enabled to accelerate their careers in a global trade hub with a rapidly diversifying economy and fast-growing private sector that supports residents to be the best in their field, while creating a home in Abu Dhabi.

The diversity of Abu Dhabi’s support for talented expats is in line with the leadership vision to diversify the economy as well as ensure a welcoming, safe and supportive environment where everyone can thrive.

For more details about Thrive in Abu Dhabi, the long-term visas and paths to citizenship and the government departments leading each category, visit https://tamm.abudhabi/en/Golden-Visa or call +971 2 666 4442 (outside UAE) or 800 555 (within UAE).

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Loanhere Launches New Website to Help Singaporeans Apply for Personal Loans from Licensed Money Lenders Fast and Effortlessly

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SINGAPORE – Media OutReach – 23 February 2021 – Loanhere announced today the launch of its website, a one-stop destination platform to apply for a personal loan in Singapore and receive multiple quotations and offers from licensed money lenders instantly.

Widely recognised as one of the most expensive cities in the world to live in, having the financial liquidity to cope with Singapore’s high cost of living is not an easy thing. Coupled with an ongoing global pandemic, a significant number of locals are finding it difficult to cope and necessary to take out loans to cover living expenses and other payment obligations.

According to a recent report by Finder.com, almost 1 in 3 Singaporeans have taken out a personal loan in the last 12 months, largely to cover basic expenses, consolidate their debts or pay off credit card liabilities.

Aggregating loan quotes from licensed money lenders


Although there are platforms in the market that provide aggregated information on personal loan and sme business loan, almost all of them are focused only on bank financing. There isn’t a similar platform that exists in the market for borrowing from a licensed money lender perspective.


Loanhere is launched in response to this and seeks to be the one-stop destination platform for all information related to borrowing from licensed moneylenders in Singapore.


More importantly, Loanhere provides potential borrowers with instantaneous loan quotes aggregated from a curated selection of established and experienced licensed money lenders throughout Singapore.


Loanhere saves borrowers time and hassle by prequalifying all the partner lenders in its network, to be operating with a valid moneylender license issued by Monetary Authority of Singapore (MAS), are of good standing with relevant authorities and have excellent customer reviews.


Simply by providing basic personal information such as name, contact details, and the sum of money desired to borrow, Loanhere matches the loan request via its proprietary process with suitable offers from its network of licensed lenders and sends the corresponding loan quotes and offers to the requestor’s email inbox instantly. The service is automated and entirely free to use by all Singapore citizens and permanent residents (PRs).


While banks have been the traditional lenders of personal loans, more and more Singaporeans and permanent residents have been increasingly turning to licensed money lenders as the alternative – or even the preferred – channel to take out a loan from.


With evaluation criteria generally more favourable to borrowers, shorter application processing and cash disbursement time, as well as the possibility of negotiating customised loan repayment plans, more and more locals are finding the licensed moneylender route an attractive option for personal financing.


Clearing the air on licensed money lending


Nevertheless, there remains a certain degree of misconception and an absence of clarity in the market when it comes to licensed moneylenders, such as how do they work, how to differentiate the good ones from the bad, what is considered legitimate and what is not, among other doubts and concerns.


Beyond providing borrowers loan quotes fast, Loanhere also strives to raise the public’s general awareness and understanding of borrowing from licensed moneylenders, through regular publishing of articles on the website that covers various aspects of the subject, including the clear distinction between licensed money lending and other unsavoury forms of lending.


“Taking up loans from licensed money lenders in Singapore is a viable and oftentimes more appealing option than borrowing from banks. We believe more Singaporeans can better alleviate their financial situations with a clear understanding and proper use of licensed moneylenders as a practical and legitimate source of funds, and are committed in our mission to deliver the most efficient loan quote aggregation service in the market”, explained a spokesperson from Loanhere.


Visit the Loanhere website and receive instant loan quotes with a simple submission at https://loanhere.co/.

About Loanhere

Loanhere provides useful and relevant information about loans and alternate financing options via licensed moneylenders to help Singaporeans and permanent residents (PRs) alleviate their financial challenges.

Loanhere is committed and dedicated to be the number 1 destination site in Singapore for loans and financing through licensed moneylenders.

To find out more about Loanhere, please visit https://loanhere.co/.

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Hunter Fan Company Debuts Industrial Fan Line For Singapore

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Inventor of Ceiling Fan Expands HVLS Product Offerings for International Market Needs

 

SINGAPORE – Media OutReach – 23 February 2021 Hunter Industrial Fans – the industrial division of Hunter Fan Company – launched its international fan line known as “DDI.” The DDI is a high volume, low speed (HVLS) industrial fan built for powerful air circulation. The HVLS fan is designed for simplicity while providing significant airflow due to its custom-built, direct-drive motor and three aerodynamically efficient blades.

“Hunter Industrial has grown significantly over the last six years, and we’re proud to offer a product that meets the demand for our international customers across the globe,” said Mark D’Agostino, Senior Vice President and General Manager of Hunter Industrial. “The DDI fan will offer competitive pricing with unmatched performance in the industry.”

Available in two sizes – including 20- and 24-foot diameter models–the DDI fan is ideal for any facility looking to provide greater air movement in large spaces, such as warehouses, manufacturing centers, shipping, or dock and door areas.

“We have seen an increased demand for an international product line that is reliable, easy to install and affordable. DDI is the solution, and I look forward to partnering with companies across the world to meet their facilities’ needs,” said Borja Chavarri, International Director of Sales for Hunter Industrial.

The DDI fan features a five-year warranty on the motor and electronic control, and a Limited Lifetime Warranty on all other components. For international sales inquiries, contact Borja Chavarri at [email protected].

About Hunter Industrial Fans

Since 1886, Hunter Fan Company’s focus has been on providing and enhancing comfort for consumers. Hunter’s commitment to quality, craftsmanship and innovation is why the company remains unrivaled today–and why Hunter’s fans last for generations. Hunter Industrial is part of that heritage, and the industrial division’s high-volume, low-speed fans embody Hunter’s passion for pioneering breakthroughs in ceiling fan technologies. Hunter Industrial’s fans are designed with every person in the process in mind–from installer to owner. Based in Nashville, Tenn., Hunter Industrial’s designers, engineers and technicians work together to test, prototype and manufacture every fan to perfection. For more information, visit www.hunterfan.com/industrial.

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