ZoodMall, an emerging B2C cross-border e-commerce marketplace app operating in Central Asia and the Middle East announces the closing of a US$10 million Series A fundraising round.
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, CEO of ZoodMall said, “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 instalment plans of 0, 30, or 60 days to settle without incurring interest charges.”
Khoi 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 roll outs into Kuwait, Bahrain and Saudi Arabia.
For further information on the ZoodMall offering, visit , https://www.zoodpay.com/ or download the app in Playstore or App Store.