Unicommerce sees 200% YoY growth in overseas revenue in FY23
The SoftBank-backed firm registered an annual run rate of 5 million transactions, with over 35 clients spread over six countries in Southeast Asia and the Middle East.
Delhi-NCR-based supply-chain-SaaS-platform said its international business revenue grew 200% year-on-year in FY 2023, aided by Southeast Asia and West Asia, it said in a statement.
The SoftBank-backed ecommerce tech firm said it registered an annual run rate of 5 million transactions, with over 35 clients spread over six countries in Southeast Asia and the Middle East.
"We had a significant first movers advantage in India, and to some extent, we still have it. That wealth of knowledge really helped us because many of the ecommerce trends are similar in these markets," CEO Kapil Makhija told YourStory.
To grow outside India, Unicommerce targeted emerging ecommerce markets such as the United Arab Emirates (UAE), the Kingdom of Saudi Arabia, Singapore, Indonesia, Malaysia, and The Philippines, where it launched country-specific features such as localised tax compliances and generating invoices and shipping labels in local languages.
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The platform is sector agnostic and works with brands in various segments such as fashion, footwear, FMCG, beauty and personal care, F&B, and others. As a result, the firm said it has emerged as the preferred choice for 3PLs (third-party logistics) and fulfilment providers in the Middle East and Southeast Asia.
Makhija said that the product nuances built by Unicommerce over the years such as expiry management for health products and smaller barcodes that fit on smaller packages for cosmetics have helped the company grow overseas.
Unicommerce believes there is a lot of potential for growth in the SEA and Middle East markets. These regions are seeing strong ecommerce adoption, similar to what India had seen a few years ago. As a result, the company plans to double down on its efforts to keep expanding transaction volumes in these regions.
Founded in 2012, Unicommerce is an ecommerce focused supply chain SaaS technology platform, which provides ecommerce enablement software for multichannel selling, inventory management, warehouse management, and omnichannel solutions. It provides a software-as-a-service (SaaS)-based order management and fulfilment platform to ecommerce and retail businesses, and works with brands across 45+ industry segments.
The company said it has achieved an annual run rate of processing over 600 million transactions worth more than $7 billion in GMV.
The platform is widely used in India, the Middle East, Africa, and Southeast Asia, and works with brands such as Myntra, Jack & Jones, Tommy Hilfiger, Lenskart, Urban Company, and Adidas.
Edited by Megha Reddy
