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Yc Alum Dropee, A Malaysia B2B Wholesale Platform, Lands $7M Series A

Jan 20, 2022•almost 4 years ago

Amount Raised

$7 Million

Round Type

series a

SoftwareCommerce And Shopping

Description

Another startup focused on SMEs in Southeast Asia has announced a funding round. Dropee, a Malaysia-based B2B wholesale platform that also offers financial services, like working capital loans, to SMEs, said today it has closed a Series A round totaling $7 million. The Y Combinator alum raised $3 million in equity and $4 million in debt, led by returning investor Vynn Capital. Other participants included HCL Capital, Resolution Venture and LKF Capital, along with returning investors Brama One Ventures.

Company Information

Company

Dropee

About

Another startup focused on SMEs in Southeast Asia has announced a funding round. The startup says it is used by over 80,000 SMEs, mainly small retail stores, to buy wholesale inventory through its marketplace, and now totals more than $100 million in annualized transaction value. For example, the platform makes product recommendations through its AI-based smart catalog: each B2B consumer sees a personalized selection of best-selling goods, complementary products and campaigns based on their business needs. Dropee, a Malaysia-based B2B wholesale platform that also offers financial services, like working capital loans, to SMEs, said today it has closed a Series A round totaling $7 million. To gauge creditworthiness and loan terms, Dropee uses multiple variables captured through its platform, including an SME’s transaction data to lifetime value per business network.