Malaysian Healthy Snacks E-commerce Platform Receives Funding
Signature Market, a Malaysian healthy snacks e-commerce retail platform, has raised MYR 4 million (USD 1 million) of capital from private investment firm RHL Ventures, Axiata Digital Innovation Fund and other investors. Signature Market was founded in 2014 with the aim to provide better access for consumers to healthy and nutritious food.
By selling all natural and organic products directly to consumers on its website, the company has the flexibility to bypass costlier distribution channels, thus allowing them to sell products of high quality and freshness at a competitive cost.
Signature Market’s revenue grew from USD 243,723 (MYR 1 million) to USD 3.29 million (MYR 13.5 million) in 2018, and staff strength increased from five to 50 people. Malaysia remains as its current market focus and it aspires to scale up regionally by leveraging on RHL Ventures’ regional network expertise.
(Sources: Digital News Asia; Deal Street Asia; e27)