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Lai said that another key specialization is its competitive shipping rates and steeper discounts that allow global brands to trial or test their products in a completely new market. “All this contributes to improving operational efficiency and lowering costs for all parties.” “We digitize new brand discovery, automate the negotiation and client management process, and streamline logistics and shipping by pooling orders,” Cho said. Last week, Peeba announced its partnership with Hong Kong-based Choco Up to enable the “sell first, pay later” payment option for retailers on Peeba’s platform. One of Peeba’s unique features is that there is no upfront cost with stocking their physical or virtual shelves with inventory from Peeba, as the company uses a “sell first, pay later” model, Lai said. Tundra, the zero-fee wholesale marketplace, picks up $12 million “When it comes to onboarding SMBs, our process involves leveraging our proprietary credit risk technology that assesses the prospective retailer’s eligibility,” Lai told TechCrunch. The company also will bolster its machine learning-driven recommendation engine and improve its proprietary technology for its retailers’ automated credit checks, said Kevin Cho, co-founder of Peeba. Lai said its localization effort isn’t just focused on supporting multiple languages the strategy involves having a more robust understanding of the demand for new products and categories, meaning it will accurately identify potential products and brands, he added.
With the latest funding, Peeba plans to double its headcount and expand local offices to improve local language support across 11 Asian countries. According to Peeba, there are high barriers to entry and expansion for brands seeking growth in Asia due to the wide range of languages, currencies, regulatory environments and business practices across the region. Jacky Lai, CEO of Peeba, who has worked in tech and supply chain management for over a decade, told TechCrunch he has heard from brands that they struggle to find new sales channels and partners, especially in Asia. The new round of funding brings its total raised to $5.8 million. The startup has secured $4.2 million in seed funding led by Headline Asia.
The Hong Kong-headquartered company wants to help Asia-based B2B retailers reduce inventory risk and offer higher operational efficiency with lower costs via its platform. Peeba says the lack of B2B-focused online wholesale solutions and tech infrastructure hampered Asia’s antiquated B2B wholesale retail market in business growth and new market entries during the pandemic. A startup called Peeba has built a B2B wholesale online platform that connects independent retailers across Asia with unique brands around the world.
Over the past two years, Asia’s retailers were forced to do virtual meetings instead of visiting in-person trade shows or conferences to source new brands and products due to the pandemic lockdowns.
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