Singapore’s MatchMove Buys E-Commerce Startup Shopmatic In $200 Million DealFintech company
MatchMove has acquired e-commerce startup
Shopmatic in a $200 million deal to create an end-to-end service to digitalize the startup.
Shopmatic, also headquartered in Singapore, provides
small businesses an e-commerce presence by developing web stores and automating access to the world’s largest e-marketplaces. The acquisition will enable MatchMove to provide its fintech services, such as banking apps, to
Shopmatic’s million customers.The combined entity, now operating under the MatchMove Group name, will
target revenue of $400 million and four million customers across 15 countries by 2026.
This deal is the first in a series of planned acquisitions of
Southeast Asian companies for MatchMove.
