Due to the fact that people today utilize social media and messaging apps every single day, social commerce is becoming the most natural way for buyers to make purchases.
SleekFlow, an omnichannel social commerce platform that aids businesses in translating client stream automation from messaging and reside video to transactions, has closed a fundraising round of $8 million. Its funding for Collection A was led by Tiger International Management, along with the AEF Larger Bay Spot Fund, managed by Gobi Companions GBA.
Consumers spend 80 percent of their time on social platforms, and it''s currently a requirement to find and invest in products and solutions straight from in this article, according to CEO and CEO of SleekFlow. By currently becoming the first social commerce integrated hub to merge conversations, solutions catalogs, payment solutions, and transform administration into one particular for enterprises.
SleekFlow, which was founded in 2019, now serves over 5,000 businesses across the globe, including NARS Cosmetics, Bossini, Lalamove Hong Kong, and PSB Academy. Soon after its latest pre-Collection A funding, it promises to increase approximately 500 percent profits, according to Alibaba Hong Kong Entrepreneurs Fund (AHKEF) in may 2021. (SleekFlow did not provide its baseline for that development.)
The Hong Kong-based business will leverage the latest funding to increase its market penetration into Southeast Asia, particularly Singapore and Malaysia, as well as the United Kingdom and other countries in Europe. Moreover, the new funding will assist SleekFlow in expanding its product offerings through fintech and info analytics capabilities, one particular-click on checkouts through social media platforms, and easy in-chat payment integrations for on-line (O2O) and e-commerce brands.
In Southeast Asia alone, about 90% of electronic retailers use electronic payments for profitability and survival, according to the business, thanks to the chat-to-checkout component that is significant in generating 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 last November.
By 2030, the international social commerce market will grow to $6.2 trillion.
According to the firm, a person in five pounds used on retail in Southeast Asia is transacted by means of social media, and many more individuals are looking for professional services providing seamless communication. SleekFlow offers several messaging channels such as the 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 expected to grow substantially faster than ever before, according to Chibo Tang, the operating partner of Gobi Partners GBA. In a statement, these world commerce businesses anticipate increased income through social media in just three years. SleekFlows is a fantastic program that will assist these world commerce companies fulfill the challenges of shoppers who are turning to social media to order additional than ever before.
In Hong Kong, Singapore, Malaysia, Taiwan, and the United Kingdom, Slack now has a group of 60 users.