Previous investors Insignia Ventures, Wavemaker Partners, others, participated in this roundSingapore-based procurement startup Eezee has raised US$7.5 million in its Series A round led by Ayala Corporate Technology Innovation Venture Fund , a venture capital backed by Ayala Corporation and its business units.
Minette Navarrete, president of Kickstart Ventures, who advises the Active Fund, said the B2B MRO market is estimated at US$616 billion and in Asia alone, B2B e-commerce is expected to grow by 12% annually. She added that the firm’s investment in Eezee supports its resolve to co-build responsive and resilient supply chains with Tan and his team.
By streamlining the procurement process, the platform allows businesses to save money and time, it claimed. Since launching in 2018, Eezee said it has quickly developed into Singapore’s top B2B procurement marketplace.