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Tiger Global Backs Saas Omnichannel Social Commerce Platform Sleekflow In $8M Funding

PRIVATEJun 23, 2022•almost 4 years ago

Amount Raised

$8 Million

Description

Social commerce — the process of buying and selling products or services directly through social media platforms like Facebook, Instagram and TikTok — is becoming the most natural way for consumers to make purchases since people use social media and messaging apps almost every day.

Company Information

Company

Sleek Flow

About

The company claims that it saw approximately 500% revenue growth after its recent pre-Series A funding backed by Alibaba Hong Kong Entrepreneurs Fund (AHKEF) in May 2021. The Hong Kong-headquartered startup will use the fresh capital for its market penetration into Southeast Asia, specifically Singapore and Malaysia, as well as the U.K. and other countries in Europe. The startup has recently launched a fintech product social-to-payment feature to provide a comprehensive solution for both e-commerce and brick-and-mortar businesses. In Southeast Asia alone, about 90% of digital merchants use digital payments for profitability and survival, the company says, adding that the chat-to-checkout tool is significant in driving sales and conversions from various digital sales channels. (SleekFlow did not provide its baseline for that growth.) In addition, the latest funding will enable SleekFlow to enhance its product development with fintech and data analytics functions, one-click checkouts via social media platforms, and easy in-chat payment integrations for online to offline (O2O) and e-commerce brands’ seamless workflow. SleekFlow also introduced a new sales and analytics and customer service performance tracking that helps users track and analyze consumer profiles and behaviors for personalized communications after its partnership with Shopify last November.

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