Cross-border e-commerce startup Buyandship raises $2.2M
Hongkong based Buyandship, a cross-border e-commerce shipping services has secured $2.2 million in pre-Series B funding round led by existing investor Infinity Venture Partners.
Other investors include Asia-focused VC firm SQ Capital and unnamed strategic angel investors, besides Buyandship's key management. The money will be used to improve operational efficiencies and for market expansion.
Wilson Chan, Co-founder, and CEO of Buyandship, says, that Asian e-shoppers are primarily motivated by the enormous difference in prices: "Buying a latest Dyson product on Indian online store costs around US$800, but less than US$500 from an overseas online store. At a discount rate of nearly 40 percent, customers naturally prefer to shop from overseas stores."
In operations, Buyandship wil...