Securing over $60 million in Series B financing, Jet Commerce strengthens its ecosystem - PR Newswire APAC
Summary
The funds will be used to upgrade operational infrastructure, hire more local talents, strengthen its Multi Channel Network operations, improve digital management and research and development of SaaS systems, and improve its professional brand incubation ability.HANGZHOU, China, Aug. 10, 2022 /PRNewswire/ -- Jet Commerce, a one-stop service provider for brand e-commerce focusing on emerging markets, officially announced the completion of over US$60 million in Series B financing. Hui Capital and other institutions, including ATM Capital, who was involved in a tens of millions of dollars Series A funding round, is participating in this series as well.The new funds will be used to upgrade operational infrastructure, hire more local talents, strengthen its Multi Channel Network operations, improve digital management and research and development of SaaS systems, and improve its professional brand incubation ability.Oliver Yang, founder and CEO of Jet Commerce Group, said, "Thanks to Southeast Asias young demographic structure and increased mobile internet penetration rate, the scale of e-commerce in Southeast Asia continues to grow rapidly, market prospects are optimistic, and e-commerce ecological opportunities continue. Due to the differences in culture, market, and consumption habits among Southeast Asian countries, there are high requirements for the localized service capabilities of regional companies, which Jet Commerce will also focus on. According to our perspective, the advantages of cross-border industrial resources assist Jet Commerce in becoming a new generation of the worlds leading brand service and brand-management company. "Meanwhile, Hidden Hill Capital, one of the series lead investors is optimistic on the potential of the e-commerce sector in emerging markets such as Southeast Asia.