Malaysia-headqauartered online shopping aggregator iPrice Group has raised an undisclosed amount in funding from JG Digital Equity Ventures (JGDEV), the corporate venture capital arm of Philippines-based JG Summit Holdings.
This is the continuation of the group’s Series B Investment, which was announced in March this year. The round is led by ACA Investments with participation from Daiwa PI Partners, and returning investors LINE Ventures, Mirae Asset-Naver Asia Growth Fund.
This financing will allow the group to tap into the Philippines’s large e-commerce market and enhance its current product.
With the help of JGDEV, iPrice has already secured partnerships with local companies such as RewardsMart in the Robinsons Rewards mobile app and Summit Media’s online domain PEP.ph. It plans to explore more opportunities across the Gokongwei Group of Companies (a VC firm focussed on e-commerce).
iPrice is a meta-search engine that helps customers find a wide selection of products and brands from hundreds of its partners in Southeast Asia.
Besides Malaysia, the group also operates in Singapore, Indonesia, Thailand, Philippines, Vietnam, and Hong Kong, and claims to have about 20 million monthly visits across the region.
iPrice recently appointed Paul Brown-Kenyon as its new CEO.