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Poundit raises PhP 32-million funding, launches revamped online store

By Nestor Domingo Jr - on 18 Sep 2017, 8:14pm

Poundit raises PhP 32-million funding, launches revamped online store

An award-winning ecommerce startup, operating on the Philippines since 2014, Poundit announced that is has raised PhP 32,000,000 (SGD 850,000) funding from the Singapore-based Cocoon Capital, a PhP 380,542,000 (SGD 10,000,000) seed-stage venture firm focusing on early-stage, digital companies across Southeast Asia and India.

Poundit is an ecommerce site for electronics and accessories where customers can shop risk-free, enjoy price savings, and experience genuine service. Since its inception, Poundit has built partnerships with tech brands such as Sony, GoPro, ASUS, JBL, Harman Kardon, and Otterbox. These partnerships enable the site to offer authentic and authorized topnotch products at competitive prices. With a fast-growing customer base, the company is seeing triple digit growth and with Cocoon’s support, it’s gearing up to take it to the next level.

"We were a group of friends passionate about giving fellow Filipinos a hassle free experience when shopping for electronics online. Our main focus is the customer and our aim is to give them an experience that we ourselves love. We’ve done this by providing a combination of curated selection, price savings, and genuine customer service. Poundit carries only the best brands in the world, and we partner directly with them to give customers risk free shopping and product discounts,” said Kristian Salvo, Founder and CEO, Poundit.

cocoon capital, online gadget store, poundit

“Ecommerce is undergoing a massive growth in the Philippines with a transition to more professional, customer-centric players that make sure customers have an excellent journey from browsing to unboxing. Poundit is one of the most impressive startups we have seen in Southeast Asia since we started investing," Will Klipgen, Managing Partner of Cocoon Capital remarked.

With its fresh funding, Poundit will focus on building its team, expanding its reach, and improving the customer experience. First on the list is its revamped online store to attract and engage more customers. The site will also move from www.YouPoundIt.com to www.Poundit.com to make it even easier to find.

Check out Poundit’s new site. It offers cash on delivery, accepts credit card payments, and delivers anywhere in the Philippines.

by: Yrda Veanssa Fernandez