OrientSwiss (dba ZoodMall) announces closing $10m Series A funding to fuel its growth and expansion

– SWITZERLAND, Lausanne –  ZoodMall, a cross-border e-commerce marketplace app part of OrientSwiss,  has announced the closing of a US$10 million Series A funding round.

The ZoodMall shopping app makes available over four million cross-border products such as low-cost and top-tier mobile phones, apparel, accessories, beauty, home, and garden products, children’s toys, as well as local branded products, sourced from over 30,000 sellers.

Their regional marketplace model provides the first localized shopping experience overcoming constraints on language, payment methods, and logistics thus creating a seamless and rewarding customer experience for underserved, mobile-ready customers.

“With the backing of our financial and regional strategic partners, ZoodMall will be rapidly developing its leadership position in the large and fast-growing market for cross-border B2C marketplaces, building on its strength as a capital-efficient marketplace and its BNPL model to reach a target market of over 200 million consumers in more than 15 countries across the CIS and MENA.” said CEO Michael Khoi.

Currently, the shopping app is operational in Uzbekistan, Iraq, Lebanon, Kazakhstan, and Azerbaijan. ZoodMall is set to utilize the latest investment to expand its regional presence into Jordan, Kuwait, Bahrain, and Saudi Arabia in addition to bolstering its proprietary ZoodPay “Buy Now, Pay Later” (BNPL) fintech technology.

Available in Playstore and App Store, the ZoodMall shopping app makes available over four million cross-border products such as low-cost and top-tier mobile phones, apparel, accessories, beauty, home, and garden products, children’s toys, as well as local branded products, sourced from over 30,000 sellers.

ZoodMall’s regional marketplace model provides the first localized shopping experience overcoming constraints on language, payment methods, and logistics thus creating a seamless and rewarding customer experience for underserved, mobile-ready customers.

Michael Khoi commented, “Our marketplace shopping app brings a unique value proposition by offering a one-stop experience on cross-border and local products with our own ‘Buy Now Pay Later’ solution, ZoodPay. Customers can purchase online from more than 30,000 sellers and four million products with three easy installment plans of 0, 30, or 60 days to settle without incurring interest charges.”

He continued, “With the backing of our financial and regional strategic partners, ZoodMall will be rapidly developing its leadership position in the large and fast-growing market for cross-border B2C marketplaces, building on its strength as a capital-efficient marketplace and its BNPL model to reach a target market of over 200 million consumers in more than 15 countries across the CIS and MENA.”

ZoodMall and its ZoodPay service will launch in Jordan in July 2020, followed by rollouts into Kuwait, Bahrain, and Saudi Arabia.

About ZoodMall

ZoodMall offers a wide range of local and international products in categories such as beauty, fashion and consumer electronics to household goods, toys, sports equipment and groceries to both individuals and businesses. ZoodMall is fully localized to each country it is present in and offers adapted an innovative payment and delivery options.

About OrientSwiss

Founded in 2015 by a team of experienced entrepreneurs with the aim to deliver “Swiss Quality” to innovative business models in the fast-growing mobile markets of the Silk Road Countries, OrientSwiss has created a unique Cross border B2B2C Marketplace App under the brand name ZOODMALL.

For more information: https://www.zoodmall.com

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