Less than 10% of the staff of Singapore-based online roll-up company Una Brands was let go as a result of some roles being unnecessary.
However, co-founder and CEO of Una Brands Kiren Tanna told Tech in Asia that the firm will keep on hiring for its operations in India and Southeast Asia. The firm has had “negligible” macroeconomic effects in Southeast Asia as a result of “strong” brand expansion, particularly in the Shopee and Lazada marketplaces.
Una Brands is “well-positioned” to prosper in the present economic climate, according to Tanna, and anticipates reaching EBITDA (profits before interest, taxes, depreciation, and amortization) breakeven in Q4 2022.
The business is presently attempting to get fresh finance. After receiving US$15 million in series A funding in a November 2021 financing led by White Star Capital and Alpha JWC, the company just secured a second round.
“The liquidity position of the company is strong, and our investors are very supportive of the business,” Tanna added.
Una Brands purchases Asian-Pacific-based online stores and uses technology to streamline and automate firm identification, product placement, and marketing across a wide range of distribution channels. Since its founding in 2021, it has purchased over 20 businesses, with the initial brands experiencing over 50% gains in sales and earnings.
