Shopmatic, an ecommerce enabler for small businesses, announced pre-series A funding of US$5.7 million led by Singapore-based VC firm ACP and Spring, which is an agency of Singapore’s ministry of trade and industry.
1. Singapore’s Shopmatic raises $5.7m to expand to Indonesia, the Philippines
Shopmatic is an ecommerce enabler for small businesses as well as individual entrepreneurs. Apart from building and managing their own stores, sellers can use it to get on to multiple ecommerce marketplaces, put ‘buy’ buttons on their social media pages, and so on.
Today Shopmatic announced pre-series A funding of US$5.7 million led by Singapore-based VC firm ACP and Spring, which is an agency of Singapore’s ministry of trade and industry.Shopmatic is an ecommerce enabler for small businesses as well as individual entrepreneurs
Shopmatic will, similarly, partner with local payment gateways in Indonesia and other markets. It has also focused on the needs of mobile-first markets like India and Indonesia.
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2. Google and Indonesia reach agreement in tax dispute
Indonesia’s government reached a settlement with Alphabet Inc.’s Google over a long-running tax dispute, Finance Minister Sri Mulyani Indrawati said.
Indonesia has been more strictly enforcing tax payments since Minister Sri Mulyani took office last year. Other technology giants like Facebook and Twitter with large user bases in Indonesia could be targeted next.
Part of the problem is the complexity of Google’s corporate structure, which makes it difficult to determine where revenues are generated. The firm is facing similar issues elsewhere. It settled for $185 million in its tax dispute with the UK last year.
Bangkok among 12 Top E-commerce Cities in Asia
E-commerce is expected to grow strongly in the coming years driven by the increasing number of users of mobile phone and internet, and the good news is the fact that Bangkok’s full potential has not been realized yet
Understanding Asia’s fast-moving digital ecosystem
in 2017, Asia saw 319 million new mobile connections, compared with just 5 million new mobile connections in Europe over the same time period.
The digital future of Asia is already here. In China, millions of people enter public transportation each day using their smartphones, emerge and pay for their breakfast with WeChat, and use an app to have their lunch delivered a few hours later.(more…)
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