1Export, a Philippines-based tech-enabled exporting firm, has secured US $800,000 in a seed investment round headed by Foxmont Capital Partners. A consortium from the Manila Angel Investors Network and Kerubin Capital, as well as IdeaSpace Foundation, Singapore-based Iterative, and other private investors, participated in the fundraising round.
1Export plans to use the additional funds to expand and strengthen its order processing capabilities, marketing services, finance, and other third-party integrations on its platform.
1Export was established in 2016 with the goal of assisting MSMEs in the Philippines in expanding their businesses and expanding into other nations via the use of digital tools and platforms. The firm reported export sales of about US$500,000 in June 2021, representing for 0.2% of all Philippine exports. It now has 450 supplier partners on its platform and delivers 4,000 tons of food and non-food goods. By the end of 2022, 1Export wants to be in 60 countries.