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The Selly team
Selly, a social commerce platform in Vietnam, has raised US$2.6 million in a pre-Series A funding round from CyberAgent Capital, Do Ventures, Genesia Ventures, JAFCO Asia, and Kvision (from KBank Group).
Tuan Thong, Founder and CEO of Selly, said: “We will use the fresh capital to improve product features to offer the best experience to our resellers and suppliers. It will also help us expand our presence in more remote areas in Vietnam so that everyone will have the opportunity to earn a sustainable income.”
Launched in April 2021 amid the COVID-19 pandemic, Selly is a social commerce platform that makes entrepreneurship accessible for anyone and helps people generate sustainable income without any investment or sales operations required. It only takes resellers a few minutes to source products from a wide array of high-quality goods listed on its app, then share them with their network of friends. Once an order is closed, Selly will handle the delivery with full after-sales services.
Also Read: Genesia Ventures hits US$90M first close of Fund III, targets US$130M final close in August
Selly has more than 300,000 resellers on its platform, of which 80 per cent come from lower-tier cities. Most of them are homemakers and people who have lost their jobs due to the pandemic. By starting their businesses on Selly, resellers could earn up to US$1,500 per month, the company said in a press note.
Furthermore, Selly is partnering with hundreds of traditional manufacturers and distributors in helping them venture into e-commerce to catch up with the rapid rise of the online shopping movement. It allows suppliers to reach out to customers in all corners of the country while taking care of the entire fulfilment process.
The firm charges fees only when products have been successfully delivered.
According to a recent report by Accenture, the US$492 billion global social commerce industry is expected to grow 3x as fast as traditional e-commerce to US$1.2 trillion by 2025.
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Image Credit: Selly
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