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Ecomobi raises funds from ESP Capital and Nextrans

Released at: 14:05, 27/12/2018

Ecomobi raises funds from ESP Capital and Nextrans

Photo: Ecomobi

Social retail platform raises seed-round funding from two venture capital funds.

by Hong Nhung

Southeast Asian social retail platform Ecomobi announced on December 27 it has successfully raised seed-round funding from two venture capital funds - ESP Capital and Nextrans, with an undisclosed sum.

Ecomobi is a social retail platform that connects brands with experts in online marketing and social media influencers. Partnering with Ecomobi, brands can significantly increase sales revenue based on a commitment to certain KPIs such as Cost per Action (CPA). Experts in online marketing and the social media influencer community are able to make money conveniently by advertising or selling products and services from reputable brands to their fan base.

Since its origin, online advertising has swiftly become a key marketing channel for all brands. They usually pay a third party to display their products to potential customers, but it can be quite difficult to determine whether this pays off, due to factors such as ad placements being unsuitable for the targeted audience or engaged customers not having demand for the product.

Ecomobi was founded to resolve such problems in online advertising. The platform connects brands to experts in online marketing and social media influencers via its commission base. Therefore, only when the transaction is successful does the brand have to pay Ecomobi. Via Ecomobi, anyone can make money from engagement on his or her social media, such as Facebook, Instagram, YouTube, TikTok, Bigo Live, and others.

“We believe that Ecomobi will revolutionize customer approach and selling methods as well as online marketing,” said Ms. Le Hoang Uyen Vy, ESP’s General Partner. “Southeast Asia’s internet economy is currently $72 billion and estimated to reach $240 billion by 2025, which is an annual growth rate of more than 22 per cent. When fields such as e-commerce, fintech, or on-demand apps, including taxis and food delivery, are developing rapidly, demand for highly-committed selling platforms like Ecomobi will grow significantly.”

Mr. Thanh Truong, CEO of Ecomobi, said the investment will be allocated to perfect the product, diversify sales channels, and develop new markets.

Ecomobi is built upon two major technical foundations: AI / Machine Learning and a Smart Recommendation System. These technologies evaluate suitability and automatically connect brands with experts in online marketing and social media influencers. Furthermore, Ecomobi also suggests a suitable commission for brands and their products. For experts in online marketing and social media influencers, Ecomobi recommends display optimization on each channel to maximize advertising and selling capabilities.  

Transactions on Ecomobi are completely transparent with its tracking and analytic system. Brands can therefore monitor their advertising budget and control conversion costs for each transaction.

Ecomobi originated from a startup that enjoyed remarkable success since its early days. In 2016, its original product helped brands reach 1.5 million installments after nine months. In 2017, it became a partner with a number of e-commerce platforms in Southeast Asia.

Beyond the domestic market, Ecomobi has gradually conquered Southeast Asia, forming partnerships with 100 major clients in various industries, ranging from e-commerce to financial services. The platform has now brought more than $200 million in revenue to its clients.

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