Tiger Global backs SaaS omnichannel social commerce platform Sleekflow in $8M funding – Meczyki.Net

Social commerce – the process of buying and selling products or services directly through social media platforms such as Facebook, Instagram and TikTok – is becoming the most natural way for consumers to shop as people use social media and messaging apps almost every day. We do.

smooth flow, an omnichannel social commerce platform that helps businesses build customer flow automation from messaging and live video to transactions, has closed an $8 million Series A funding led by Tiger Global Management. Transcend Capital and AEF Greater Bay Area Fund, managed by Gobi Partners GBA, also participated in the round.

“Consumers now spend 80 percent of their time on social platforms, and it’s already a habit to find and buy products directly from here,” said the Sleekflow founder and CEO. hansen tsai, “SlickFlow aims to drive this e-commerce revolution as the top social commerce integrated hub – for businesses to merge conversation, product catalogue, payment solutions and order management into one.”

Smooth Flow

image credit: smooth flow

Founded in 2019, Smoothflow now serves over 5,000 businesses worldwide, including NARS Cosmetics, Bossini, Llamov Hong Kong and PSB Academy. The company claims that it saw nearly 500% revenue growth following its recent Pre-Series A funding backed by Alibaba Hong Kong Entrepreneurs Fund (AHKEF) in May 2021. (Slickflow did not provide its baseline for that increase.)

The Hong Kong-headquartered startup will use the new capital for its market penetration in Southeast Asia, specifically Singapore and Malaysia, as well as other countries in the UK and Europe. In addition, the latest funding allows Sleekflow to fuel its product development with fintech and data analytics functions, one-click checkout via social media platforms, and easy in-chat payment integrations for online to offline (O2O) and e-commerce brands. will enable it to increase. seamless workflow.

The startup recently launched a fintech product social-to-pay The convenience of providing a comprehensive solution for both e-commerce and brick-and-mortar businesses. In Southeast Asia alone, Nearly 90% of digital merchants use digital payments For profitability and survival, the company says the chat-to-checkout tool is critical in driving sales and conversions from various digital sales channels. SleekFlow also introduced a new sales and analytics and customer service performance tracking that helps users track and analyze consumer profiles and behavior for personalized communication. Its partnership with Shopify last November.

Global social commerce market is expected to grow $6.2 trillion by 2030.

According to the company, one in five dollars spent at retail in Southeast Asia is transacted through social media, and there are more consumers. Looking for businesses that offer convenient communication, Sleekflow integrates multiple messaging channels such as the official WhatsApp Business API, Facebook Messenger, Instagram Chat, SMS and Telegram to address the challenges of managing multiple messaging and social media platforms.

“Despite the economic downturn, the social commerce market continues to be stronger than ever, reaching $474 billion in 2021,” Chibo Tang, managing partner at Gobi Partners GBA, said in a statement. “Eight in 10 U.S. businesses expect to increase sales via social media within the next three years. SleekFlow’s innovative solutions will help these global commerce businesses meet the evolving needs of customers more than ever before. Turning to social channels to make purchases.

Slack now has a team of 60 members in Hong Kong, Singapore, Malaysia, Taiwan and the UK