Malaysia’s StoreHub receives US$8.9 million from Vertex Ventures

Previously, the startup has secured US$5.1 million in Series A funding in 2018 also led by Vertex Ventures.

Malaysia’s StoreHub receives US$8.9 million from Vertex Ventures | BEAMSTART News

The new funding round brings StoreHub’s total funding to US$15 million, supporting its aim to grow F&B and retail platforms across Southeast Asia.

StoreHub claims to have over 13,000 stores in Southeast Asia, with transaction growth from US$269 million to US$1.2 billion to date.

StoreHub has a regional team of 325 people located across multiple offices in Kuala Lumpur, Bangkok, Manila, and Shanghai.

In 2016, the company bagged US$850,000 in seed funding from Silicon Valley-based VC firm 500 Startups.

“Investors like our strong unit economics and recurring revenue model which are key to our sustainable growth and ability to reach profitability very quickly when we want to,” StoreHub CEO and Cofounder Fong Wai Hong said.

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