With $1.6 million in startup funding, Etaily powers e-retail in the Philippines and ASEAN

Staff ni Anjie
Etaily, an e-commerce facilitator, has raised US$1.6 million in seed funding from top companies, including Ayala Ventures, Foxmont Capital Partners, Magsaysay Shipping & Logistics, the Boston Consulting Group, and other well-known angel investors. The money will help the Philippines' e-commerce sector expand and thrive while also preventing a "retail apocalypse" like in the United States and Europe.

With $1.6 million in startup funding, Etaily powers e-retail in the Philippines and ASEAN
With $1.6 million in startup funding, Etaily powers e-retail in the Philippines and ASEAN

Etaily, an e-commerce enabler that provides brands with end-to-end omnichannel solutions while integrating offline and online retail processes and services, hosted a recent webinar called “Breaking The e-Retail Ceiling In ASEAN,” which discussed this forecast of the future of Philippine e-commerce. This novel method will give traditional retail enterprises a lifeline into the digital world, allowing them to continue to engage with their customers. Etaily has processed over 1 million transactions and made over 50,000 unique products available to the entire country and other countries, including Malaysia, Indonesia, and Singapore. It manages more than 20 brands across all online channels, has activated more than 10 offline merchants for online capacity, and expects to generate a gross merchandise value income of USD 10 million in 2021.

“We will not allow the retail apocalypse that occurred in the United States and Europe because we are giving conventional merchants a digital fighting chance to compete for the local as well as regional market,” said Alexander Friedhoff, CEO of Etaily. By merging their offline and online businesses, we are linking online brands and retailers with ASEAN customers. The most important element is that the final consumer is the winner. And we're delighted to offer them a fighting chance and to accompany them on their trip from beginning to end.”

At the height of the epidemic, Etaily was created in March 2020, capitalizing on consumers' rapid yet significant migration to the digital marketplace and online purchasing. It has aided traditional merchants in finding their position in the scary new world of e-commerce, using digital tools to guide them through the always-changing and bewildering markets. In addition, established firms and upstarts may scale their brands using its front-end-to-back-end capabilities, multi-channel solutions, and seamless interfaces with SEA's main online platforms.

Toti Wong, Etaily's CCO, explains how their platform and practices make e-commerce accessible to even small businesses looking to grow rather than just survive. “I believe most Filipino retailers soon realize that e-commerce is becoming more complicated,” he says. The markets of 2017 were vastly different from those of today. This isn't going to get any easier in the following months and years. Etaily's role as an e-commerce facilitator is to help sellers and brands handle these difficulties so they don't have to learn everything independently. They may then concentrate on brand management, distribution, and retailing, which are their main businesses.”

Meanwhile, according to Tatiana Cziormer, COO of Etaily, marketers can use their data to better understand their clients, improve client relationship management, and raise the buying power of their platforms. She adds that today's technology can help brands shift to digital in a seamless, effective, and user-friendly manner: “We know that as e-commerce increases in Southeast Asia and the Philippines, it will get more complex. SME's will be at various stages, and we will need to supply solutions for them. For them, we must innovate and develop new technology. Finally, we hope that Filipino brands and retailers would become more competitive, particularly in the worldwide market. We aim to break down geographical and commercial obstacles so that we can promote companies that Filipinos adore to the global market.”

The benefits of an established e-commerce ecosystem, according to Amor Maclang, Convenor of Digital Pilipinas: “More than simply e-retail and e-commerce, the Philippines is leading on many frontiers when it comes to technology.” We are one of the world's leading innovators in fintech and payment, and all eyes are on us. Even with fledgling asset classes like crypto and tokenization, we want to continue to champion those. Our e-retail, eMSME, and e-commerce journeys will not be far behind. We are grateful to platforms like Etaily, which have done the tough lifting and are building ecosystems that will give Filipino shops a legitimate fighting chance.”

Alberto M De Larrazabal, Ayala Corp.'s CFO, Chief Risk Officer, and Chief Sustainability Officer, also commented on its support for e-commerce growth through its Etaily partnership, stating that it "continues our commitment to prioritize retail digitization. The Filipino is the largest winner here, as we believe that e-commerce is the answer to many of our problems. Etaily makes products available to the entire country, and we're here to support digital retail and provide our country with the tools it needs to thrive in the future."

Jesse Maxwell, the COO of Magsaysay Shipping and Logistics, explained the importance of logistics in Philippine e-commerce. “Working with the Philippine logistics structure is difficult. We are an archipelago, and transferring these items at the rate we want from e-commerce will necessitate additional expenditures in this area. To secure the customer experience [for] consumers... [who] will continue to support this tremendous new adoption, we must spend heavily in warehouses, technology, trucks, and last-mile capabilities.”

Finally, Franco Varona, Managing Partner of Foxmont Capital Partners, stated that Etaily's new capital will help the country's e-commerce market grow faster. He noted that the 112 million Filipinos using social media, who are also buying and selling online, could be appealing to international investors, such as Singaporeans. “We are witnessing actual e-commerce businesses that Etaily helps—-they started from scratch and are now moving Php20 million worth of items per month,” he explained. In the Philippines, there is a tremendous amount of rapid growth. If Singaporean investors notice this, we'll be on the same track that Indonesia was ten years ago: we'll catch up quickly. We're almost as linked as Indonesia, and we're waiting for foreign investors to see the market's potential.”

Friedhoff reiterated that the Philippines' e-commerce future is one in which "the Filipino triumphs." Filipino brands are represented by Etaily. We combine both offline and online channels as the greatest digital tools for them. That is why we concentrate on the overall shopping experience.”

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