Supplycart raises fresh round of funding to revolutionize office procurement with digital technology led by KK Fund
A new B2B e-commerce platform plans to equip all office needs.
Kuala Lumpur, 31st October 2016 — Receiving a USD500,000 funding by KK Fund, Cradle Fund and other private investors, Supplycart launches a website that serves as a platform for small and mid-sized company's office managers, administrators or personnel’s that are involved with the procurement of office supplies and services. A need for a one stop procurement functionality for all their office needs. Supplycart provides a portal for individuals and teams to automate office orders complete with team functionality, quotation approval systems, nine office-related categories, and automated invoices for business use. Unlike other services or platforms, Supplycart provides a new system that cultivates a productive workplace by providing a network of suppliers to help businesses be more efficient and focus resources on where it matters most.
Founded by the same idea, Jonathan Oh and Soh Shangrong embarked on an entrepreneurial journey in 2014 with Freshcart, an online grocer. Freshcart grew and received recognition by winning second runner up for the Alliance Bank SME Innovation Challenge 2015. For over two years, the company served thousands of customers and helped corporate clients like Unilever, BP, Ecoworld, Alliance Bank and hundreds more with their pantry and fruits supplies, employee engagement initiatives, goodies for product launches, town hall events, health day talks and much more.
With a new round of funding, Supplycart has been established to focus on the increasing demand of corporate orders with a seamless ordering and approval process. CEO and co-founder of Supplycart, Jonathan Oh added, “There is a massive opportunity in the usually overlooked space in procurement for office products and services. Streamlining and consolidating a business’ repetitive task and pain points keeps the office focused on remaining lean and productive.”
Office managers and administrators in traditional businesses would have to manually go back and forth to source for vendors, compare rates, and seek approval from superiors. Some may even find themselves heading off to the store to grab what is needed which takes up a lot of time and effort. Supplycart eliminates ad hoc tasks by delivering all office needs at the best prices with orders and approvals being able to be done online.
Commenting on its targeted market segment, Jonathan said, “We see a great potential in small and medium enterprises. The cost of hiring and training office managers or secretaries to handle a traditionally time consuming task has never been addressed until now,” Jonathan said. Adding to that, Supplycart is not stopping at just becoming a one stop online platform for all your office needs but also looking to impact businesses and work culture in a positive way.
“In this B2B commerce industry, lots of off-line traditional players play a dominant role in Southeast Asia. Supplycart is approaching this traditional industry by focusing on the technology to empower their B2B clients.“expressed Koichi Saito, General Partner of KK Fund.
By providing solutions for the procurement process and digitalizing the system, an office will have no excuse but to run efficiently. Supplycart aims to expedite procurement by making information from numerous vendors across different industries easily available, comparable and transparent with their quick approval feature on their website www.supplycart.my.
The nine office categories include on Supplycart platform are office fruits, pantry supplies, IT rentals, furniture, office supplies and services such as catering, employees’ benefits, gifting and events. The company envisions a future where they will be able to create great workplaces with a work happy culture.
Supplycart is a website for businesses to order everything for their office seamlessly, aspiring to create a new ecosystem that cultivates a productive workplace by providing a network of suppliers to help businesses be more efficient and focused on what is important. The company also envisions a future where they will be able to create great workplaces with a work happy culture.
About KK Fund
KK Fund is a venture capital fund to invest in seed stage internet and mobile startups across South East Asia, Hong Kong and Taiwan.
About Cradle Fund
Cradle Fund Sdn Bhd (Cradle), an agency under the Ministry of Finance, Malaysia (MOF) is a non-profit organisation that manages RM100 million Cradle Investment Programme since its inception in 2003. An additional RM175 million was recently added under the 10th Malaysia Plan for 2011 – 2015. It aims to create an ecosystem that supports a strong and innovative business-building environment for technology entrepreneurs and also achieve commercialisation efficiency and sustainable entrepreneurship as per their credo – Catalysing Sustainable Technopreneurs. Cradle represents the Government’s effort at boosting quantity and quality of innovations and technology start-ups with a vision - “To be the preferred and leading provider of early stage funding to innovative and aspiring entrepreneurs, and to be recognised and respected for excellence in service, delivery and product offerings”
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