AllSome Fulfillment Raise US$ 1.94M Seed Funding Led by East Ventures
8 August 2019
Malaysia, 8 August 2019 —AllSome Fulfillment, Southeast Asia cross border ecommerce fulfillment for modern online sellers, announced earlier today that it has secured US$1.94M of seed funding led by East Ventures. The investment will accelerate AllSome Fulfillment’s mission to support effective cross-border e-commerce fulfillment needs and expanding its network to other countries across Southeast Asia, including Indonesia.
Born from own suffering
AllSome Fulfillment was established in 2018 by Malaysian Ng Yi Ying and Chinese national Liu Yi Shu. The two founders first met back in 2012 when Ying, a former SAP consultant in Malaysia, was pursuing her Master degree at Tsinghua University, China. Shu, who was then her landlord was working at Amazon China. They both discovered the huge potential of cross border shopping and started their first venture together as online seller to bring colorful product selections from China to Malaysia, Singapore and Thailand.
Followed by the growth of business, the founders then suffered from the huge gap in cross border logistics. Ying explained how the cross-border logistics is expensive and could take up to 45% of the product’s capital. Furthermore, the delivery process also hugely problematic. 30% of the ordered items were shipped wrongly, either wrong size or defective. These problems still exist until today.
All the hassles they faced then inspired them to build AllSome Fulfillment for merchants. AllSome Fulfillment is made to act as an in-between for sellers and buyers who respectively buy and sell products from sources in overseas, particularly China. Their service removes all the painful steps for sellers from sourcing international suppliers, offshore quality assurance, secured storage, pick & pack, door-to-door delivery, and parcel tracking feature.
For end-buyer, AllSome Fulfillment eliminated the need to visit multiple websites to keep track of their deliveries as the service allows them to tie their various shipments to their phone numbers.
Co-founder and CTO of AllSome Fulfillment, Ng Yi Ying commented, “As a former online seller ourselves, we understand how fulfillment services are always expensive. AllSome Fulfillment is built essentially to make it affordable for every seller to use e-commerce fulfillment everywhere they need. AllSome Fulfillment has made significant efforts in building up a wide fulfillment network to service online sellers throughout their supply chain.”
The company aimed to reduce cross border fulfillment and logistics cost by at least 40% to help online sellers in attaining more profit. Today, the company has established a network of 250 virtual warehouses in China and Malaysia and served 50 clients across Southeast Asia. On a daily basis, the company could handle 120,000 parcels deliveries.
Bridging the cross-border of China and SEA
For many countries in Southeast Asia, overseas purchase is an old story. According to Consumer Barometer, two out of three Singaporeans purchase products online from overseas, followed by Thailand where 49% of the consumers have made international purchases. In Indonesia, 43% of imported goods comes from China.
Cross border e-commerce is catching its momentum in Southeast Asia. In a report published by Accenture, the cross border B2C e-commerce market in Asia Pacific has the potential up to $476 million in 2020, covering 31% of total B2C e-commerce market.
Shu commented, “Southeast Asia e-commerce market is as promising as China, fast growing and exciting. But, at the same time, it’s very challenging too. Countries in the region are fragmented in term of geographic distribution, culture and preferences. Therefore, the market requires effective localized logistic solutions to cope with the rapid movement of goods while offering high flexibility to support all types of use cases. AllSome Fulfillment believe now is the right timing to place serious efforts on cross border logistics.”
With this fresh fund, AllSome Fulfillment is expanding to Indonesia, the largest country in the region with huge e-commerce potential. One of the main reasons are due to its big population and stable economy. Google and Temasek predicted that e-commerce market in Indonesia will reach US$53 billion in 2025.
Commenting on the new capital injection, Ying recalled their first meeting with East Ventures Partner, Melisa Irene. “We’ve been speaking through emails for some times, but our overlapping schedule dawdled the conversation. Irene decided to meet us in Malaysia to quicken the process and I’m impressed to receive the deal already the very next day.”
Melisa Irene, Partner of East Ventures says,”AllSome Fulfillment team is building the right playbook to accelerate and optimize the supply chain of SEA online retail market. By instantly enabling SEA online sellers to access product sourcing and logistic expertise from China, and building decentralized local fulfillment capability, this will unlock true potential of commerce in the region.”
About AllSome Fulfillment
AllSome Fulfillment provides virtual warehouse and fulfillment services for Southeast Asia online sellers. With physical operations in China and Malaysia, AllSome Fulfillment managed to provide supports for online sellers to satisfy cross border fulfillment needs effectively, which reduce at least 40% of the time and cost.
AllSome Fulfillment have established a network of 250 fulfillment warehouses and processed over half a million of items to 94 countries without owning a warehouse.
For more information, please visit: https://www.allsomedock.com
About East Ventures
East Ventures is an early stage venture fund focused on Southeast Asia and Japan. Over several years, East Ventures has invested in hundreds of companies in Indonesia, Singapore, Japan, Malaysia, and Thailand. The majority of East Ventures’ portfolio firms have been able to raise follow-on financing rounds.
East Ventures has a strong track record in developing pan-Asia tech-ecosystems and backing hundreds of startups in their early days. Success cases include companies such as Tokopedia, Traveloka, Mercari, Disdus (acquired by Groupon), Kudo (acquired by Grab), Tech in Asia, Omise, IDNTimes, Ruangguru, Jurnal, Cermati, MokaPOS, ShopBack, EVHive, Pasar Polis and Loket (acquired by Gojek). http://east.vc