Dropee, after passing Endeavor’s Local Selection Panel, aims to reshape SEA’s B2B e-commerce
By Digital News Asia September 19, 2022
- Effort in growing more sales by providing robust on-ground activation teams
- Can grow into being No.1 B2B SaaS player, regionally and soon, globally even
Unparalleled growth against her peers, after successfully raising US$7 million for their Series A funding, Lennise Ng, Haslinda Rasip, and Aizat Rahim, co-founders of Dropee triumphs in another win, gaining unanimous votes and passing Endeavor’s recent Local Selection Panel (LSP) hosted by Endeavor Malaysia and Endeavor Philippines.
Since its launch in 2017, Dropee is now one of the fastest growing B2B wholesale SaaS-enabled marketplace in Southeast Asia with a market presence in Malaysia, Singapore, and Indonesia. What once was supposed to solve a family business challenge, Dropee today helps 30,000+ businesses with over 120,000+ wholesale products listed on their website.
[Ed: Para edited for accuracy.]
Dropee works with thousands of partners, from the wholesalers, distributors, fulfillment and warehousing partners to serving local retailers with a whole new experience in stocking up inventories in a better, faster, and cheaper way. With their recent new feature, Dropee is looking to invest effort in growing more sales for other SMEs by providing robust on-ground activation teams, helping SMEs adopt digital solutions, where small to medium businesses can extend up to 60 days of credit terms, with zero hardcopy documentation. This allows more SMEs to leverage on the extended cash flow to invest more in Areas of their business that grow more sales, such as purchasing more popular or best-seller products.
“We started with drop-shipping in 2017 and pivoted to address the challenges for offline mom-and-pops. The challenges change and increase over time. We are now looking into customer retention rates, and how Dropee can assist in bringing down the operating cost and increase business longevity. From passing this Local Selection Panel, with the help of Endeavor mentors and their gathered expertise, we are hopeful to take on better solution routes for the business and minimize oversights as we scale “Dropee bigger and stronger”, said Lennise Ng, Co-founder of Dropee.
Dropee, being the second Malaysian startup to enter one of the most prestigious Silicon Valley program, the Y Combinator, who is also now an alumni of Endeavor’s ScaleUp Program Cohort 1, aims to grow the business with Endeavor and looking to strengthen their foothold in Malaysia and Indonesia first before tapping into other regional markets.
The Local Selection Panel is the culmination of a rigorous merit-based selection process to select high-impact entrepreneurs who demonstrate the potential to leverage Endeavor’s resources and mentorship to create high-growth sustainable businesses, jobs, as well as to create enduring local entrepreneurial ecosystems.
For this session, hosted alongside Endeavor Philippines, we had global industry experts Rexy Dorado (Co-founder & President of Kumu), Raja Hamzah Co-Founder and Co-Managing Partner of RHL Ventures, Billy Valtos (Managing Director of Tao Corporation) and Ferish Patel (Partner of Cooley LLP) on the panel.
“What Dropee is doing is strategic. By doubling down efforts in the local market before tapping into other markets gives them the upperhand to become the leader in their industry first as it allows them to acquire loyal customers faster. As long as they figure out who to partner with in the region and to not stretch the productivity management too thin, I believe with Endeavor’s support, Dropee can grow into becoming the number one B2B SaaS player, regionally and soon, globally too,” commented Raja Hamzah.
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