Tiger World-wide backs SaaS omnichannel social commerce platform SleekFlow in $8M funding – TechCrunch

Social commerce — the approach of shopping for and selling items or solutions specifically through social media platforms like Fb, Instagram and TikTok — is turning into the most all-natural way for buyers to make purchases due to the fact people today use social media and messaging apps almost every single working day.

SleekFlow, an omnichannel social commerce platform that aids enterprises make client stream automation from messaging and reside video clip to transactions, has shut $8 million Collection A funding led by Tiger International Management. Transcend Cash and AEF Larger Bay Spot Fund, managed by Gobi Companions GBA, also participated in the spherical.

“Consumers now shell out 80 percent of their time on social platforms, and it is currently a pattern to find and invest in products and solutions straight from in this article,” claimed founder and CEO of SleekFlow Henson Tsai. “SleekFlow aims to push this e-commerce revolution by currently being the prime social commerce unified hub — merging conversations, solution catalogs, payment solutions, and get administration into one particular for enterprises.”

SleekFlow

Impression Credits: SleekFlow

Founded in 2019, SleekFlow now serves much more than 5,000 enterprises across the globe, together with NARS Cosmetics, Bossini, Lalamove Hong Kong and PSB Academy. The enterprise promises that it noticed approximately 500% profits expansion soon after its the latest pre-Collection A funding backed by Alibaba Hong Kong Entrepreneurs Fund (AHKEF) in May perhaps 2021. (SleekFlow did not present its baseline for that development.)

The Hong Kong-headquartered startup will use the fresh cash for its current market penetration into Southeast Asia, especially Singapore and Malaysia, as well as the U.K. and other nations in Europe. In addition, the newest funding will help SleekFlow to improve its product enhancement with fintech and info analytics capabilities, one particular-click on checkouts through social media platforms, and easy in-chat payment integrations for on line to offline (O2O) and e-commerce brands’ seamless workflow.

The startup has lately released a fintech product social-to-payment function to deliver a complete solution for each e-commerce and brick-and-mortar enterprises. In Southeast Asia alone, about 90% of electronic retailers use electronic payments for profitability and survival, the business claims, including that the chat-to-checkout resource is major in driving product sales and conversions from numerous digital sales channels. SleekFlow also released a new product sales and analytics and purchaser company performance tracking that helps buyers monitor and analyze purchaser profiles and behaviors for customized communications just after its partnership with Shopify final November.

The international social commerce market place is projected to increase to $6.2 trillion by 2030.

According to the firm, a person in five pounds used on retail in Southeast Asia is transacted by means of social media, and far more buyers are searching to organizations providing hassle-free communications. SleekFlow integrates numerous messaging channels these kinds of as Official WhatsApp Organization API, Facebook Messenger, Instagram chat, SMS and Telegram to address the difficulties of controlling a number of messaging and social media platforms.

“Despite the financial downturn, the social commerce market is likely much better than ever, reaching $474 billion in 2021,” Chibo Tang, running companion of Gobi Partners GBA explained in a assertion. “Eight in 10 U.S. enterprises anticipate amplified income through social media in just the future 3 years. SleekFlow’s impressive options will help these world commerce companies fulfill the evolving requires of shoppers who are turning to social channels to order extra than ever before.”

Slack now has a group of 60 users in Hong Kong, Singapore, Malaysia, Taiwan and the U.K.