Resellee, a social e-commerce startup from the Philippines, announced today that they have raised $1 million in seed funding.
Investors for the round include Mintech Enterprises and Hofan Capital.
Co-founded by Marc Concio, Glenn Quiro, Aaron Madolora, Jason dela Rosa and Lorraine Macapagal, Resellee is a social e-commerce platform that allows Filipinos to buy and sell (as well as resell) products online via social media without having to keep any inventory of products.
The vision is to provide a platform where people can start an online business with zero-capital — perfect for people who are unemployed or seeking to earn some additional income.
At the same time, the service is able to help many small and medium-sized businesses (as well as farmers) sell their products online to thousands of resellers and buyers.
Moving forward, Resellee aims to utilize the new funds to grow its local operations and expand regionally in 2021.
“Resellee plans to deploy the proceeds of the fund on capital investments to further enhance its product development and innovation with new app features such as group buying, AI and microfinancing, among others. The new features will make it easier for our resellers and merchants to earn more income,” Founder and CEO Marc Concio said in a statement.