Shopmatic acquires SaaS platform CombineSell

This will allow its merchants to sell on multiple channels through a single platform.

E-commerce firm Shopmatic has fully acquired Software as a Service (SaaS) platform CombineSell, according to a press release.

The acquisition will allow Shopmatic's merchants to sell on multiple channels whilst managing their online business through a single dashboard.

Co-founded by June Yong, Amanda Ho & Gerald Lam, CombineSell has over 30 online marketplaces aggregated into a single platform, including Lazada, Shopee, Qoo10, Amazon, eBay, Carousell, Redmart, and Xero. It has generated over $150M of gross merchandise volume in the last 12 months.

Shopmatic has over 250,000 merchants on its platform. Following the launch of its disruptive transaction pricing model, the company has clocked a 174% QoQ revenue growth and a 160% hike in transactions on its platforms within the April-June quarter.

The e-commerce enabler had previously acquired a 50.1% stake in retail management and POS solution provider Octopus.