Ayala Corporation Technology Innovation Venture Fund, supported by Philippine conglomerate Ayala, led a series A fundraising round for Eezee, a Singapore-based B2B marketplace for industrial hardware and supplies, and raised US $7.5 million.
Eezee, a digital marketplace that was established in 2018, gives companies access to tools for buying things like construction, medical, and other products. At the moment, the marketplace offers more than 130,000 products from 2,000 vendors. More than 400 businesses, including ExxonMobil, Shell, Zuellig Pharma, and Resorts World Sentosa, use the platform.
The business claimed in a statement that its 2021 gross merchandise value increased 5 times over the previous year.
Together with Jasper Yap, Julian Siew, Terrence Goh, and Logan Tan—a former business development manager at DBS Bank—Eezee was founded. At the moment, 60 people work there.
Next year, the company intends to quadruple its workforce and expand its operations to Indonesia, Malaysia, and the Philippines with the new capital.