Unicommerce records 50% revenue growth in FY23 on back of international expansion
The ecommerce enablement SaaS platform now plans to launch new products to optimise business performance and tap into Tier II and Tier III cities.
Ecommerce enablement platform said it recorded a revenue increase of approximately 50% in FY 2023. The growth comes on the back of the company steadily expanding its presence in India and international markets, specifically in the Middle East and Southeast Asia.
Unicommerce attributes the growth to its network effects leading to global expansion. Its international business revenue registered a growth of 200% in the past financial year, working with 35+ clients in six geographies, including the UAE, Saudi Arabia, Singapore, Indonesia, Malaysia, and the Philippines.
"We are focused on international expansion to make a global impact. Additionally, we will soon unveil groundbreaking products that empower retailers to streamline ecommerce selling," Kapil Makhija, CEO of Unicommerce, said in a statement. "Alongside these initiatives, we will continue to strengthen our presence in India, fostering growth and empowering businesses nationwide."
The supply-chain SaaS startup now handles a run rate of 620 million transactions annually, with a Gross Merchandise Value (GMV) exceeding $7 billion.
The Delhi-NCR-based company has recorded consecutive growth, with its operating revenue registering a 47.5% growth to Rs 59 crore in FY22 from Rs 40 crore in FY21. Unicommerce asserted the company has maintained consistent profitability and stable EBITDA margins over the last two financial years.
The company plans to launch new products designed to optimise business performance and enhance the post-purchase experience for consumers. Unicommerce is also keen on tapping into the opportunities emerging in Tier II and Tier III cities in India with the rise of new D2C brands.
Unicommerce said its platform currently processes over 1.7 million transactions daily and has served over 20,000 registered customers. Its supply chain solutions are used in more than 8,000 warehouse facilities and reaches over 3,000 stores globally, including , , , and , to name a few.
Founded in 2012 by Karun Singla, Manish Gupta, Ankit Pruthi and Vibhu Garg, Unicommerce provides ecommerce enablement software for multichannel selling, inventory management, warehouse management, and omnichannel solutions. It boasts 200+ industry integrations across various platforms, including marketplaces, logistics service providers, ERPs, POS, and accounting software.
Its investors include SoftBank Vision Fund and Tiger Global Management. The company was acquired by Snapdeal in 2015.
Edited by Kanishk Singh