Ekkbaz, a B2B marketplace with an embedded financing platform, has just raised $500,000 in funding from Haitou Global, KeyStone Capital, Artesian, and Enterprise Singapore. This newly acquired funding will be used to expand the business into Bangladesh, Singapore, and Vietnam, providing SMEs and small-scale businesses with a valuable resource to access financing, reach new customers, and build better relations with suppliers.
Shawn Zong, Managing Director at KeyStone Capital, said, “The e-commerce market has seen significant growth over the past few years, mainly driven by SMEs. EkkBaz’s vision is to revolutionize the FMCG sector and is led by an inspired and motivated leader, and we are proud to invest in teams that shape the future of commerce” With this new financial support, EkkBaz will continue to provide small businesses with the opportunity to grow and succeed.
Jerry Wang, CEO of Haitou Global, expressed his excitement about their investment in EkkBaz. “We are excited about our investment in EkkBaz as the E-commerce + BNPL business model is a proven successful model in the SEA market with great potential. We are also proud of how EkkBaz brings greater financial inclusion to Bangladesh”
Enam Chowdhury, Co-Founder and Co-CEO at EkkBaz, was equally enthusiastic. “We are thrilled to receive this funding, which will allow us to continue to support small businesses in Bangladesh and Southeast Asia. Our platform is making a real difference in the lives of small business owners, and this funding will help us expand our reach and impact even further.”
EkkBaz was founded in 2021 by Enam Chowdhury, an ex-Microsoft executive and Zobaida Sultana, a veteran of the supply chain and technology sectors with over 20 years of experience. Their goal is to provide small businesses with access to affordable financing and a platform to sell their products and services. In just one year, EkkBaz has seen a 46 times revenue increase, a testament to the success of their innovative business model and mission. With the newly-raised funds, the company looks forward to expanding their reach and helping even more businesses across Southeast Asia.