N-Squared Ecommerce Group, an e-commerce distributor and solutions provider in Thailand, has received an undisclosed amount in Series A funding from a clutch of investors, including KKP Capital, Siam Alpha Equity (SAE), Chanwanich Group, AHMP and ECG-Research.
The funds will be used to strengthen its core technology and services and expand its footprint across Southeast Asia.
“According to Statista, the e-commerce market in Southeast Asia is expected to grow by more than 402 per cent from 2019 to 2025. Following this growth opportunity, we are scaling our international businesses across Southeast Asia to countries including Malaysia, Singapore, the Philippines, Indonesia, and Vietnam,” said Nuttapon Boonpinon, Managing Partner at N-Squared Ecommerce.
Started in 2016, N-Squared provides e-commerce services including logistics and operation management, omnichannel management, customer service, web and tech, online marketing, data analytics, and consulting.
It owns several online direct-to-consumer brands and an e-commerce distributor for over 130 brands in six countries across Southeast Asia.
The startup’s clients include Tefal, L’Oreal, Huawei, and Hewlett-Packard.
The startup expects to more than double its revenue for 2020.
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