36 krypton goes to sea for the first time | Cross border e-commerce service provider SCI Ecommerce has completed about 440 million yuan of financing, and should be the "combination" of Baozun+Shopify

2022-11-21
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Author:Deng Yunxi
Source: 36kr

36 Krypton Sailing learned that SCI Ecommerce (hereinafter referred to as "SCI"), a cross-border e-commerce operator headquartered in Singapore, had recently completed the C+round of financing, with a financing scale of S $88 million (about 440 million yuan). This round of financing is led by Asia Partners, a private equity institution in Singapore, and invested by EDBI, an investment fund affiliated to the Singapore Economic Development Agency, and FIC, a well-known private equity fund in the United States.

Asia Partners, as the leading investor, is headquartered in Singapore. Its founders include Nick Nash, former group president of Sea, the largest technology group in Southeast Asia, and Oliver Rippel, former CEO of e-commerce business of Naspers Group (Tencent's largest shareholder).

According to Robin Yang, the chief financial officer of SCI, this round of financing is the largest single financing in the history of e-commerce service track in Southeast Asia. After this round of financing, the valuation of SCI is close to 2 billion yuan. In addition, the newly raised funds will be mainly used for two aspects: first, market expansion. SCI will vigorously develop major markets in Southeast Asia this time to enhance its influence in target markets. Second, technology research and development. Improving the technical capabilities in cross-border e-commerce services will be the key plan of SCI in the next 1-3 years.

Founded in 2014, SCI Ecommerce, headquartered in Singapore, now has branches in Indonesia, Malaysia, Thailand, as well as Hangzhou, Beijing and Shenzhen in China. It is a comprehensive company integrating e-commerce platform agent operation, new media/social e-commerce, e-commerce supply and marketing, off-site advertising, small language customer service and other brand e-commerce operation services.

Talking about entrepreneurial experience, Joseph Liu, founder and CEO, recalled: "When I was 17 years old, I went to Singapore to study abroad. After graduation, I began to set foot in the e-commerce industry and became an e-commerce platform seller. In 2012, we became the first seller to achieve a monthly sales of S $100000 under Qoo10's home and lifestyle category, and in 2015, we won the Lazada Best Seller Award. The entrepreneurial experience of platform sellers gave me a deep understanding of the e-commerce industry in Southeast Asia, as well as the service operators in the market Needs. In 2014, we founded SCI Ecommerce, and in 2015, after studying in the United States and China, we formally transformed from a seller to an operator of brand e-commerce. "

According to Robin Yang, up to now, SCI has become the fastest growing cross-border e-commerce operator in Southeast Asia. "Earlier this year, we were rated by the Financial Times and the Straits Times as the fastest growing company in the e-commerce service industry in the region, with a compound annual growth rate of more than 300%. The growth rate of our peer players was about 40%." Robin Yang said so.

In terms of business layout, as the only e-commerce operator in the region with business covering Singapore, Malaysia, Indonesia, Vietnam, Thailand, the Philippines, and China at the same time, SCI is committed to the "two-way cross-border" of Southeast Asia and China markets, from online store operation, digital marketing solution provision, in station promotion and off-site drainage, order processing All links from warehousing and transportation to financial settlement provide services for brand users, and help local Southeast Asian, as well as cross-border brand sellers in Southeast Asia and China better layout their target markets.

At present, SCI users include Zhang Xiaoquan, Abbott, Unilever, Nestle and other domestic and foreign brands. In addition, SCI has also reached cooperation with Tmall Global, Netease Kaola, Vipshop, Shopee, Lazada, Tokopedia and other head platforms in Southeast Asia. In addition, in the last quarter, SCI also cooperated with TikTok Indonesia as TikTok's first group of official social e-commerce service providers in the Southeast Asian market.

Speaking of profit models, according to Joseph Liu, founder and CEO, SCI's profit models can be roughly divided into two types. First, as a pure e-commerce operation service provider, we charge regular service fees+commissions. The other mode is "e-commerce operation service provider+e-commerce dealer", that is, the self operated mode of "selling before purchasing" or "purchasing before selling". The income of this part is mainly the price difference of goods. As for the revenue, Mr. Robin Yang, the chief financial officer, said that SCI had achieved profitability in 2019, and the revenue scale in 2020 had exceeded 100 million dollars, making it one of the largest e-commerce service providers in Southeast Asia.

Regarding the future of SCI, Two digits indicate: "As a company that is deeply involved in both Southeast Asia and China, the next step for SCI is the Baozun+Shopify model, which is called 'SCI 2.0'. We will provide more targeted services based on SaaS solutions and in line with the different needs of international major brands and small and medium-sized sellers. For example, we will provide customized and personalized services for international major brands. For small and medium-sized sellers, they will prefer 'standard' Standardized 'service. They need better technical tools to help them manage and expand their online business. "

Wen | Deng Yunxi

Editor | Zhao Xiaochun

Figure | Graph Worm

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