E-commerce focussed IT firm Unicommerce plans to invest USD 5 million towards strengthening its international operations in various countries of Southeast Asia and the Middle East with a target to garner 400 per cent growth in business, the company said on Tuesday.
The software-as-a-service provider has already acquired over 25 new clients in the multiple markets of the Middle East and Southeast Asia such as Dubai, KSA, Kuwait, Singapore, Philippines, Malaysia etc.
Unicommerce has decided to invest USD 5 million towards strengthening international operations and further expanding its presence in various countries of Southeast Asia and the Middle-east, the company said in a statement.
The company will invest the money in the areas of product enhancement, setting up local offices, sales, and marketing along with hiring local talent in these regions.
"After becoming a leader in the India market, we took a strategic decision to build our international presence. We decided to focus on emerging markets of the Middle-east and Southeast Asia as the e-commerce sector in these countries is on an upward growth trajectory," Unicommerce CEO Kapil Makhija said in a statement.
Unicommerce claims that it processes 20 per cent of India’s e-commerce volumes. Unicommerce claims that it processes 20 per cent of India’s e-commerce volumes.
"The current investment will further empower the company to accelerate its expansion plans and achieve a whopping 400 per cent growth in overseas business. As part of the aggressive growth strategy, the company also plans to commence operations in newer markets within these regions," the statement said.
The company claims to be working with over 15,000 customers across India, Middle-east, and Southeast Asia and processes over 1 million daily transactions where it has integrated its solution with marketplaces, logistics service providers in these regions such as Lazada, Amazon.ae, JollyChic, Shopee, NinjaVan, Fleet.ph, XDE, Aramex, DHL etc.
"We spent the initial time researching about the market so that we could get our product ready for these markets. Now we are in a position to accelerate our international business at a lightning-fast speed with strong capital infusion focused on client acquisition, creating brand awareness, and continuous product development," Makhija said.