Photo from Konvy, showing (left to right) Leon Huang (CFO & Co-Founder), Mia Chou (Ecommerce Director), QingGui Huang (CEO & Co-Founder), Pornsuda Vangvidhayakul (Managing Partner) and JC Chen (CCO)
Thai beauty e-commerce platform Konvy bags $11m for SEA expansion
The online beauty store features over 20,000 products.
Thailand-based e-commerce platform Konvy has raised $11m in the second round of Series A fundraising to support its expansion in Southeast Asia.
In a statement, Konvy said the funding was from new Day Ventures Limited, the investment arm of Philippines-based retail operator Robinsons Retail Holdings Inc, AlibabaAlibaba International Digital Commerce (Alibaba International), and existing investor Insignia Ventures Partners.
Konvy aims to start its expansion in the Philippines, citing the country's dynamic beauty market.
“After Thailand, the Philippines is the next port of entry for mass adoption of beauty products and remains a trendsetter in the industry with their young and digitally savvy population," said QingGui Huang, CEO and co-founder of Konvy.
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"Konvy aims to replicate our success in Thailand by offering a diverse range of beauty products, blending the convenience of online shopping with the immersive experience of a physical store,” Huang added.
Founded in 2011, Konvy hosts over 1,000 global and local brands and 20,000 products on the platform.
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