E-Commerce Aggregator, Una Brands, Raises USD40 Million In Seed Round From Heavy Hitters To Acquire And Scale Brands In APAC

Singapore-based e-commerce startup, Una Brands, today announced that it has raised a USD40 million Seed Round of equity and debt financing, in one of the biggest seed funding rounds seen regionally. Una Brands will use the capital to buy and scale e-commerce brands based in APAC.

Kiren Tanna, former CEO of Rocket Internet Asia and Founder of foodpanda and ZEN Rooms, founded Una Brands in 2020. Kiren is backed by four other Co-Founders spread across APAC, namely Adrian Johnston, Kushal Patel, Tobias Heusch and Srinivasan Shridharan.

Kiren Tanna, CEO of Una Brands sees enormous regional growth potential: “We estimate that there are more than 10 million third-party sellers on regional platforms across APAC. The COVID lockdown created a huge surge in e-commerce demand, with a peak demand increase of over 100 per cent in many cases. The lockdown encouraged many people to try shopping online for the first time and has created a behavioural shift in consumer habits.”

The funding round, backed by leading global investors, includes 500 Startups, Kingsway Capital, 468 Capital, Presight Capital, Global Founders Capital amongst others. Una Brands has also secured investment from Maximilian Bittner, currently CEO of Vestiaire Collective and former CEO of Lazada.

Khailee Ng, Managing Partner at 500 Startups, believes that Kiren and the team have the technical and personal experience to make Una Brand a global leader in e-commerce. “They are experienced, mature Co-Founders with a track record in creating speed, scale and success,” explained Khailee. He added, “Why we invested in Una Brands goes beyond that. Kiren and his team have the right approach, there is a huge and growing e-commerce market in APAC and there is a huge opportunity for consolidation and optimisation.”

6 May 2021

Author: Terry KS

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