Singapore’s online grocer Redmart has raised $5.3 million in a new round of funding led by Facebook co-founder Eduardo Saverin.
Property Guru founders Steve Melhuish and Jani Rautiainen, JFDI co-founder Meng Weng Wong, The Lo & Behold Group founder Wee Teng Wen and Lion Rock Capital have also participated in the round.
Redmart has raised $10 million since foundation.
RedMart plans to use the proceed to build its logistics infrastructure and technology to support the company’s growth.
“The logistics and technology platform the RedMart team is building extends far beyond selling groceries in Singapore. The founders’ ambition is boundless, their execution near flawless and I am excited to help them to realise their vision,” said Saverin.
