Poundit, an e-commerce startup operating in the Philippines since 2014, announced that it raised SG$850,000 funding from Singapore-based Cocoon Capital, a SG$10 million seed-stage venture firm focusing on early-stage, digital companies across Southeast Asia and India.
Poundit is an e-commerce site for electronics and accessories. Since its inception, it has built partnerships with tech brands such as Sony, GoPro, ASUS, JBL, Harman Kardon, and Otterbox, enabling the site to offer authentic and authorized products. The company is seeing triple digit growth and with Cocoon’s support, it’s gearing up to take it to the next level.
“We were a group of friends passionate about giving fellow Filipinos a hassle free experience when shopping for electronics online. Our main focus is the customer and our aim is to give them an experience that we ourselves love. We’ve done this by providing a combination of curated selection, price savings and genuine customer service,” said Kristian Salvo, founder and CEO, Poundit.
“Poundit is our first investment in the Philippines,” said Will Klippgen, managing partner, Cocoon Capital. “E-commerce is undergoing massive growth here with a transition to more professional, customer-centric players that make sure customers have an excellent journey from browsing to unboxing.”
With its fresh funding, Poundit will focus on building its team, expanding its reach, and improving the customer experience. First on the list is a revamped online store to attract and engage more customers. The site will also move from www.YouPoundIt.com to www.Poundit.com to make it easier to find.
Poundit offers cash on delivery, accepts credit card payment and delivers anywhere in the Philippines.