Woowa Brothers invests $1.5 million in iPrice Group



Woowa Brothers is attracted by the huge growth potential in Southeast Asia's digital sector and has been making investments in the region's startups since 2019.
With funding, iPrice is gearing up for a Series C funding round.

iPrice Group - Startup in the field of product aggregation and online price comparison - has just announced successfully raising USD 1.5 million from Woowa Brothers - a food-tech company headquartered in Korea.  This is the second successful fundraising that this e-commerce information aggregation platform has received amid the global pandemic, aiming for a series C funding round.

Woowa Brothers invests $1.5 million in iPrice Group

Woowa Brothers invests $1.5 million in iPrice Group / ph: iPrice

 Woowa Brothers is attracted by the huge growth potential in Southeast Asia's digital sector and has been making investments in the region's startups since 2019. With a desire to enter the e-commerce sector growing rapidly, Woowa decided to invest in iPrice.

According to Joshua Dhong, Senior Investment Associate from Woowa: As Southeast Asia's e-commerce market grows, competition between e-commerce platforms is increasingly fierce and the number of sellers is increasing. He believes that iPrice holds a helping role.  As consumers find the right platform and save costs, this will become increasingly important in the region.

User preferences and tastes have diversified development over the years, so they expect a seamless shopping experience across the platforms they interact with. Consumers increasingly expect an integrated shopping experience on their phone – be it through different apps or even using the camera to shop visually. iPrice have therefore built the product to bring e-commerce to these categories, becoming a key partner for leading platforms and super apps in the region.

 Currently, iPrice has partnerships with well-known brands such as Home Credit (Indonesia), Thairath (Thailand), GoRewards (Philippines), Boost (Malaysia), ViSenze (Singapore), SmartPay (Vietnam).

 Since Woowa Brothers and Foodpanda are both part of the German-based online food delivery service company- Delivery Hero, therefore, additional cooperation opportunities are still open between the two organizations and iPrice in the future even though any form of partnership is not part of this investment.

 With funding, iPrice is gearing up for a Series C funding round. The Malaysia-based company will take advantage to improve products and accelerate the rollout of partnerships.

Woowa Brothers invests $1.5 million in iPrice Group

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