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Shopmatic aims to turn cash positive in 2021

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Shopmatic has registered revenues of over S$7M in 9 months (April-December 2020). The company claims to have exceeding its target by 40%.
“The company witnessed great demand from customers in Singapore,India, Malaysia & Hong Kong a testament to the digital wave which has been accelerated due to the effects of COVID-19,” said the company in a statement.
In December 2020, Shopmatic launched a new range of solutions allowing customers to choose from four different ways to ecommerce via Shopmatic Chat, Shopmatic Social, ShopmaticWebstore, and Shopmatic Marketplaces.
During the last 9 months, Shopmatic as a group claims to have enabled over 5000 Singaporean businesses to digitize and generate significant customer revenues by helping businesses sell through marketplaces, social media commerce and their webstores.
The company plans to further expansion in SouthEast Asia this year and is said to be in advanced discussions with investors for a Series B Fund Raise.


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