Tiger Global led a series A fundraising round that saw SleekFlow, a social commerce platform located in Hong Kong, raise $8 million. The round also included Transcend Capital and AEF Greater Bay Area Fund.
With the additional funding, SleekFlow intends to create new products and increase its market share in Southeast Asia.
Henson Tsai, a former consultant with Ernst & Young, founded SleekFlow in 2019 with the goal of streamlining communications for businesses. It provides services to more than 5,000 companies, including PSB Academy, Bossini, Lalamove Hong Kong, and Nars Cosmetics.
The firm also provides fintech solutions, such as social-to-payment, that enable companies to establish payment linkages and accept payments via chat.
To enter the social commerce sector, the Hong Kong-based company has unveiled a campaign automation solution for TikTok, Instagram Shops, and other platforms. According to Grand View Research, the market is anticipated to be valued $3.37 trillion USD globally by 2028.
60 people work at SleekFlow across the UK, Taiwan, Malaysia, Hong Kong, and Singapore. The firm reported that after receiving a pre-series A capital round from Alibaba Hong Kong Entrepreneur’s Fund last year, its valuation has increased by 1200 percent and its revenue has increased by 500 percent.
