SINGAPORE - Media OutReach - 14October 2019 - International e-commerce company, Shopmatic hasacquired 100% of CombineSell, a Software as a Service (SaaS) platform thatautomates & simplifies multichannel e-commerce selling by aggregatingpopular online marketplaces into just a single platform.

The acquisition follows Shopmatic'sstrategy of consolidating its position in a fragmented e-commerce enablingsoftware sector. The Singapore-based e-commerce enabler had previously acquireda 50.1% stake in retail management and POS solution provider Octopus, to unlockthe omnichannel growth strategy for its merchants. Now, Shopmatic has broughtSingapore's top-ranking multichannel e-commerce solution provider, CombineSell,to further its value proposition to their customers.

CombineSell leverages innovativetechnology to enable merchants to sell on multichannel e-commerce platforms,and drive campaigns for business growth. With this acquisition, Shopmatic'smerchants will now be able to leverage the power of selling on multiplechannels while managing their online business through a single dashboard. CombineSell has 30+ ecommerce channel integrations available -including those with Lazada, Shopee, Qoo10, Amazon, eBay, Carousell, Redmart,Xero, etc, from a single, centralised platform and has generated over $150M ofGMV in the last 12 months. CombineSell was co-founded by June Yong, Amanda Ho& Gerald Lam and has over 30+ people based across Singapore & Malaysia.

Commenting on theacquisition, Anurag Avula, Co-Founder & CEO, Shopmatic, said,"In our continued bid to drive digital success for our merchants,we have been growing our suite of services on the platform, and are very happywith the acquisition of CombineSell.  This gives us a significantadvantage in enabling the overall growth & success of all merchants on ourplatform. In just a single click, merchants will now have access to sellingacross numerous channels in various countries across South East Asia. Theacquisition of CombineSell further consolidates our position as clear marketleaders in digitizing SMBs & Individual Entrepreneurs in APAC."

LohJune Yong, Founder & CEO, CombineSell added, "At CombineSell, we understand that growingan online business can be rife with challenges. To the same end, we have beenmaking it easier for sellers on our platform to grow and manage their businessacross multiple marketplaces. Shopmatic has cemented its position as apowerhouse e-commerce platform for small businesses and individualentrepreneurs. Following the latest development, we are excited to join forceswith Shopmatic and together enable the online success of businesses, in theemerging markets."

SEEDSCapital, the investment arm of Enterprise Singapore, has been an early investorof Shopmatic. On the acquisition, Geoffrey Yeo, General Manager, SEEDSCapital, said, "Having invested in Shopmatic earlier on, bothSEEDS Capital and Enterprise Singapore have been working closely with Shopmaticon its expansion plans in Asia, especially to markets such as India andSoutheast Asia where the e-commerce needs are growing rapidly. SEEDS Capital ispleased to have connected Shopmatic with CombineSell, which led to this win-wincollaboration for both companies. The acquisition will allow Shopmatic to growits e-commerce capabilities, and further augment the integration of itse-commerce channels to better serve its customers."

Shopmatic continues tocreate industry disruptions with features, offers and pricing, focused onenabling the success of sellers on its platform. With over 250,000 merchants onits platform, Shopmatic has been setting the trend for enabling sellers to besuccessful digitally.

Shopmatic'scustomer-first approach has unlocked tremendous growth figures. Following thelaunch of its disruptive transaction pricing model, Shopmatic clocked a 174%QoQ revenue growth and a 160% hike in transactions on its platforms within theApril-June quarter. Empowered by a fervent response from small businesses andaspiring entrepreneurs on its platform, Shopmatic is geared up to bring half amillion merchants online in the current financial year.

About Shopmatic

Founded in December 2014, Shopmatic has been drivinggame-changing strategies in the ecommerce space and has engineered itself to stay focused on helping its customers succeed.

With its recent acquisition of Octopus, Shopmatic isdriving an omnichannel play for individual entrepreneurs and businesses in emerging markets, by enabling the entire ecommerce-&-retail-management ecosystems for them to succeed.

From a domain name to easy integrations with domesticand international payment gateways and shipping partners, to getting discovered via a unique, curated platform- Shopmatic World to POS, Inventory Management and CRM solutions, Shopmatic helps business owners manage the full spectrum of what is required to growtheir business.

Shopmatic is headquartered in Singapore with a presencein India, Hong Kong, China, Malaysia, Philippines and UAE. The company is quickly expanding to the rest of South-East Asia, this year.

Shopmatic has raised 20 M SGD from its incorporationtill date with August One, SEEDS Capital and a consortium of investors.

For more information, please visit www.goshopmatic.comor contact media@goshopmatic.com