Shopmatic onboards 1M merchants, to cross 5M merchants mark in next 3 years with $3B GMV
Shopmatic has witnessed 80 percent growth in transactions and GMV over the last quarter and claims to be EBITDA positive, a year ahead of its projected plans. It also registered revenue of $5.5 million for H1 FY 2020.
International ecommerce enabler, on Monday announced that it has successfully onboarded one million merchants on its platform. The landmark moment also coincides with the completion of Shopmatic’s sixth year of operations in India, the company stated.
The company is now planning to cross the five million merchants mark over the next three years, with $3 billion GMV.
Speaking to YourStory, Anurag Avula, Co-founder and CEO, Shopmatic, said,
“It is an honour to reach the one million merchants mark as we complete almost six years in India. A microcosm of dynamics that are unmatched by any other geography across the globe, India has inspired us to constantly evolve.
From helping merchants set up online ecommerce web stores to enable them to choose from four different ways to do ecommerce — social commerce, chat commerce, marketplace commerce, and selling through web stores; setting up complete solutions to digitise kirana stores and be the only company to allow merchants to onboard via a mobile app; to fostering a large ecosystem of partners who have evinced faith in us, it is indeed a very proud moment for us to acknowledge where we have gotten to. “
The Singapore-based startup has deeply invested its energies in understanding the pain points faced by SMEs and individual entrepreneurs in India, and emerging markets over these years.
Anurag Avula, Co-founder, Shopmatic
To counter the devastating impact of the COVID-19 outbreak, Shopmatic expanded its portfolio to include tailored solutions, especially for India’s kirana stores that are looking to create an online presence. With this, Shopmatic allowed local shop owners to build their web stores easily, without the need for technical or coding experience.
In 2020, Shopmatic clocked $400 million in GMV across five million transactions and is well on track to beat records by the close of 2021.
What has aided in the success of the brand is the fact that Shopmatic has made it extremely simple and easy for merchants to go online and sell. It is the only platform that enables the entire ecosystem for merchants to sell online — without them having to do anything themselves.
“From setting up a customised web store, social store, chat presence, to integrating multiple payment gateway and logistics offerings, helping them drive digital campaigns and also providing them with insights on customers how to sell better, our offering is all-encompassing,” added Anurag.
Riding on an upward trajectory with its tech-enabled solutions for the SME sector, Shopmatic has witnessed 80 percent growth in transactions and GMV over the last quarter and claims to be EBITDA positive, a year ahead of its projected plans. It also registered revenue of $5.5 million for H1 FY 2020.
Edited by Kanishk Singh