SHOPRUNBACK, a French-Cambodian logtech (logistics tech) startup, announced today that it has closed its pre-series A financing with a total fund raise of USD 900,000. OBOR Capital, a leading venture capital fund in Cambodia, led the investment round, and was also joined by other investors including Negocia Ventures, a Singapore-based VC firm founded by serial entrepreneur, Thierry Tea.
ShopRunBack, which already counts leading retailers and marketplaces in Europe in its portfolio (Cdiscount, Etam and Mango), recently signed a strategic partnership with Shenzhen’s 4PX Express (AliBaba Group) to take logistics and e-commerce in the region to new heights. In addition to proposing the use of its reverse logistics platform to 4PX’s database that includes more than 300,000 merchants. This collaboration aims to increase adoption of logistics and e-commerce best practices in the Mekong region.
As e-commerce grows within the region, so do the investments which flow into it. OBOR’s investment into ShopRunBack shows the confidence of the group in e-commerce in the coming years as the future of many regional economies.
The exponential growth in this sector only confirms the assumptions made by OBOR, and just like any growth, there needs to be a solid infrastructure in order for this growth to be sustained. As stated by OBOR’s Chairperson Christophe Forsinetti “This growth can only be sustained with a robust logistics infrastructure. ShopRunBack’s experience running cross-border logistics in Europe and its strategic partnerships in the region puts it in a good position to be one of the leading logistics players in the region”
As for the intentions of ShopRunBack, it was not only to receive the financing from the USD 900,000 raised, but also are keen on the close working relations which they will have with OBOR to support their track to success. “We are very pleased by the trust shown by OBOR Capital and the investors participating in this round of financing. In addition to their great knowledge of Asian markets, OBOR Capital’s team is very involved with the start-ups they invest in, which is a top priority for us.” said Sophie Meas, Co-Founder of ShopRunBack.
For ShopRunBack, after only having opened their office in Phnom Penh in early 2018, this investment round has meant more than just capital for growth, but some key developmental steps that they have fulfilled. “First, it marks ShopRunBack’s entry into the Chinese’s market. Second, it demonstrates that we have put down roots in the region…” also said Sophie Meas.
E-commerce will keep growing at a steady rate in the region and companies such as ShopRunBack will have a head start and be able to lead the industry in the right path.