Anchanto, a Singapore-based B2B software-as-a-service (SaaS) company specialising in e-commerce technology announced that it receives a total S$16.6 million in fresh funding from Asendia, a joint-venture of the French National Post La Poste and State-run Swiss Post, and MDI Ventures, the corporate venture arm of Indonesian telco firm Telkom Indonesia.
The investment also makes Asendia AG, a European cross-border e-commerce shipping and mail services firm and Anchanto’s customer, a new shareholder. Asendia is the fourth customer to turn into a shareholder after MDI (Telkom Indonesia), Transcosmos Japan, and Luxasia.
MDI Ventures, a corporate venture capital initiative by Telkom Indonesia, increased its stake with the fresh investment.
Incorporated in 2011, Anchanto is a global SaaS technology that provides services to brands, e-distributors, e-commerce enablers, retailers, third-party logistics providers, SMEs, warehouses, and postal associations, streamline and manage their end-to-end e-commerce operations. It raised its Series A round funding from Innosight Ventures and Cub Capital in 2014. Luxasia and Transcosmos helped the firm closed its Series B round funding.
“Achieving profitability in these times is an excellent performance,” said Vaibhav Dabhade, CEO and founder of Anchanto. “I feel this is a more significant achievement than raising US$12 million in the middle of the COVID-19 crisis. We are a capital-efficient company and 100% of our revenue comes from an SaaS subscription with a high gross margin; we do not buy inventory or run services shops or warehouses.”
The fresh investments will be used “to strengthen research and development” to launch to launch two new products, build data platform and expand to three more markets.
Anchanto’s flagship product, SelluSeller, is an online multi-channel e-commerce management software as well as a mobile application. It also offers clients Wareo, a full-suite warehouse management system that helps businesses manage B2B and B2C operations through a single system.