eCommerce portal EZBuy Singapore, formerly trading as 65Daigou, has closed a S$20 million (US$14.5 million) Series B investment led by Shanghai-based private equity fund Vision Knight Capital.
Existing investors IDG Ventures and China Growth Capital also participated in the round.
EZBuy was set up in 2010 to make buying possible in overseas online stores in China, Taiwan and the US. As an intermediary, EZBuy handles the purchase and logistics of transporting the goods to Singapore.
Co-founder Wendy Liu says the funding will help the company reach its next level of the growth cycle. It will enable the portal to introduce new source markets, giving customers access to global brands at more cost-effective rates.
As well as rebranding, this latest infusion of capital will be used to expand in Southeast Asia and improve its web portal. EZBuy, which has a presence in Australia, Indonesia, Singapore and Thailand, will also launch a “Prime” service, resembling Amazon Prime. It will offer priority shipping for members and such benefits as sales, lower fees and a special flat rate for international shipping.
