Forbes: MatchMove Acquires E-Commerce Startup Shopmatic In $200M Deal

May 25, 2022

(Image Source: Technode Global)

MatchMove, a Singapore-based fintech company, has purchased Shopmatic, an e-commerce startup, in a deal worth $200 million to provide an end-to-end service that will digitalize the startup. 

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Shopmatic, also headquartered in Singapore, develops web stores and automates the access to the world’s largest e-marketplaces to provide e-commerce presence to smaller companies. With MatchMove’s growing presence in Southeast Asia, this marks the beginning of a series of planned acquisitions of Southeast Asian companies for MatchMove.

The combined entity, now operating under the MatchMove Group name, creates a fintech powerhouse with end-to-end services for companies to digitize their offerings. “Enterprise customers can now completely digitize their supply chains—providing services like supply chain lending and vendor payments through a single platform to Shopmatic’s ecosystem of SME customers,” MatchMove CEO Shailesh Naik commented in a press release.

Source: Singapore’s MatchMove Buys E-Commerce Startup Shopmatic In $200 Million Deal

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