OpenBorder’s e-commerce software helps merchants access consumers around the world
Summary
We had to build a lot of those capabilities in-house to be able to scale.Hong, working through his e-commerce company Pangaea Holdings, was able to scale to the point where a majority of revenue well into nine figures was coming from outside of the United States.Hong and his Pangaea co-founder Darwish Gani started thinking about how they could help other e-commerce businesses expand internationally. Only not have to conquer the same obstacles.In March 2023, Hong and Gani spun off the technology business into OpenBorder, which raised $10 million in seed funding. It has also increased processing volume 10 times.OpenBorders cross-border trade concept is simple: Provide e-commerce merchants instant access to international customers through automation of certain logistical needs.Those include shipping, trade, tax and duty compliance, product localization and international marketplace listings all from one software platform. Merchants can also sell on Amazon and regional marketplaces with a two-day, Prime-like experience, Hong said.With the cross-border market being a $2 trillion opportunity, OpenBorder is not alone in working to address this need. OpenBorder is using the capital on software development, including partnerships and artificial intelligence to find areas of cost reduction to improve performance.