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BUSINESS

RPG Commerce raises RM127 mln in series B funding round

22/06/2022 12:52 PM

KUALA LUMPUR, June 22 (Bernama) -- RPG Commerce, Southeast Asia’s leading direct-to- consumer (DTC) social e-commerce company, has secured RM127 million in a Series B funding round.

This funding round was led by East Ventures, UOB Venture Management, Vertex Ventures SEA and India (VVSEAI), and RHL Ventures, the company said.

The company said the funds raised will be channelled into future-proofing its technology and development processes, as well as developing and expanding its world-class brand portfolio to create revolutionary consumer products.

“We are proud to have delivered game-changing, customer-centric products and services by creating high-quality essential items through our DTC model that are accessible at their fingertips and delivered straight to their doorstep.

“With this round of funding, we aim to rapidly expand our talent pool across the entire organisation and enhance our technological capabilities, in addition to expanding our suite of brands to further disrupt the consumer landscape,” RPG Commerce co-founder and chief executive officer Melvin Chee said in a statement today.

He said RPG Commerce is also looking forward to empowering smaller businesses through incubation programmes and acquisitions to expand its range of consumer-centric products across different verticals.

Meanwhile, East Ventures co-founder and managing partner Willson Cuaca said the company is looking forward to watching the brand expand their portfolio and grow in new markets across Southeast Asia.

“RPG takes a multi-category, multi-brand approach while retaining the roll up model as an option, making them a unique and successful player in the e-commerce landscape.

“It is critical for DTC businesses to build traction internationally to ensure success and RPG stands out as a company that has been able to grow a loyal customer base across the United States, Canada, and Europe by building consumer trust through quality products and supply chain innovation,” he said.

RPG Commerce currently hosts a suite of more than 10 in-house international brands, including apparel  and homeware brands such as Thousand Miles, Bottoms Lab, Montigo, and Cosmic Cookware.

-- BERNAMA


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