Singapore-headquartered e-commerce aggregator Una Brands has raised $30 million in a pre-Series C funding round led by Northstar Group to fund its operations and acquisitions over the next two years, it announced in a statement.
The funding, which was a mix of equity and debt, came just a few months after Una Brands announced its $30 million Series B funding round led by White Star Capital and Alpha JWC Ventures. In total, the company has raised around $115 million to date.
Una Brands plans to spend the proceeds to “further develop its multi-channel platform” and to strengthen distribution networks in its key operating markets. Headquartered in Singapore, Una Brands has a presence in Indonesia, Malaysia, Australia, India, and China.
“We are bullish on Southeast Asia’s e-commerce economy and believe that Una Brands is well-positioned to capitalise on these industry tailwinds,” Northstar Group Managing Director Sreejan Choudhary said in the statement, noting that the recent investment reflects Northstar’s confidence in Una Brands’ capabilities.
“What sets the company apart is its extensive infrastructure built around its multi-channel e-commerce operations, as well as its superior technological capabilities that help support this. We know these capabilities are integral to the company and are confident these will help the company maintain its market leadership in the APAC e-commerce space,” Choudhary said.
Northstar, a major Southeast Asian private equity, has invested in multiple sectors across banking, insurance, retail, manufacturing, and others. The company is managing more than $2.6 billion in committed equity capital dedicated to investing in Indonesia and SE Asia.
“Northstar has a strong track record of investing in Southeast Asia, including in technology unicorns, such as Gojek and Advance Intelligence Group. We believe their deep knowledge of the Southeast Asian markets and strong e-commerce experience will be very valuable to Una Brands as we look to double down our operations across the region,” Una Brands CEO Kiren Tanna said.
Una Brands, which was founded in 2021, said it has achieved $70 million in run-rate revenue as a group and it is expected to achieve group EBITDA profitability this year.
DealStreetAsia recently reported the company’s losses of $3.2 million in its first year of operations based on regulatory filings. Despite being relatively new at the time, Una Brands managed to maintain a healthy runway while actively acquiring brands.
Claiming to be the only active multi-channel e-commerce aggregator in the region, Una Brands has acquired multiple brands, develop, and expand its distribution worldwide. Its flagship brands include Ergo Tune and EverDesk but it will keep acquiring brands in categories such as home and living, mom and baby, beauty and personal care.