Paramount in eCommerce enterprise

KUALA LUMPUR: Paramount Corp Bhd has invested RM10mil in Commerce DotAsia Ventures Sdn Bhd (Commerce.Asia) in step with its technique to diversify its income stream.

In an announcement, the group mentioned the funding was made by way of its wholly-owned funding car Magna Clever Sdn Bhd and Magna’s 30%-owned affiliate Omegaxis Sdn Bhd, which owns the peer-to-peer lending platform Fundaztic.

Commerce.Asia, which operates in South-East Asia, manages all facets of shoppers’ on-line companies from growing their on-line shops to managing product gross sales throughout a number of e-marketplaces, together with warehousing, fee, supply, advertising and marketing, and order administration.

In line with Paramount company technique and funding head Tracy Gan, the convergence of the monetary know-how and eCommerce traits serves because the platform for Fundaztic to offer financing to Commerce.Asia’s community of retailers using superior knowledge and insights.

The corporate has over 92,000 lively sellers that use its varied platforms, with a gaggle gross merchandise quantity of RM6.7bil final yr.

“The pandemic had shifted client habits and accelerated eCommerce adoption worldwide over the previous two years,” Gan mentioned.

As such, the funding in Commerce.Asia is well timed given its end-to-end ecosystem, monitor file, and enterprise mannequin which has virtually doubled in income since 2020 and turned worthwhile in 2021, in accordance with Gan.


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