CashCashPinoy, Leading Philippines Online Shopping Club, Announces $2 Million In New Funding

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CashCashPinoy, leading Philippines Online Shopping Club, gears up for next phase of growth with the release of REVO and the closing of a Serie B US$2 Million equity round.

Philippines leading Online Shopping Club, CashCashPinoy, announced that it has recently raised US$2 million from Singapore-based Private Equity firm, Hera Capital.

The company has grown from a start-up 3 years ago to a market leader with over 1.5 million consumer buyers, providing high standard e-commerce experience in the Philippines.

60% of CashCashPinoy traffic is already coming from mobile phone or tablets users, only 3 months after the launch of the mobile version of its web platform.

Today, CashCashPinoy releases REVO, the next-generation version of its proprietary platform. From products sourcing and fulfillment to IT, data analytics, content creation, fraud management, customer support... CashCashPinoy has set up a unique "Flash Sale" end-to-end solution for the Philippine market. The company firmly believes that a full-integrated process is the only way to create the perfect customer buying experience.

Proceeds from the current round of funding will be used to further accelerate the strategies for long-term growth of the company and its members based in the Philippines.

Frederic Levy, Founder & CEO of CashCashPinoy says “This a very exciting time for the company. The arrival of Hera Capital as a key investor is the testimony of the strength of our business model and growth strategy. The funding and the expertise from Hera Capital will facilitate business expansion, infrastructure improvements, membership acquisition, and recruitment of key talents. With our unique knowledge about the Philippines ecommerce environment, we look forward to bringing the Philippines market to a new stage of online shopping. "

To date, CashCashPinoy has secured over US$4 million in total financing since establishing operations in 2010. Previous investments came from international and Filipino successful entrepreneurs.

Sebastien Guillaud, Managing Partner at Hera Capital says “We are thrilled to join forces with CashCashPinoy team and its existing shareholders’ base. We are impressed with the quality of the offers proposed online, the robustness of the platform, the digital expertise of the team, and its superior ability to execute. Our investment will exclusively be used to accelerate the growth of CashCashPinoy in the Philippines, a country of more than 100 million people increasingly embracing e-commerce. Our capital and operational support will focus on further enhancing the online customer experience and build the largest base of loyal online consumers in the country.”

Founded in September 2010, CashCashPinoy pioneered the private online shopping club in the Philippines ahead of both international and local players and now has over 120 employees.
The company offers its 1.5 million members the most sought after designer brand accessories, beauty, home décor products, but also travel and unique activities at up to 80% off retail. Offers are proposed in the context of a maximum of 10 days, first come, first served, limited quantity events. Members can expect up to 20 new events each day.

Hera Capital is a fund management company based in Singapore, and specialized in Private Equity transactions in South East Asia. The company invests from US$1 million to US$10 million in high growth companies which are either established in the region or willing to accelerate in that part of the world. Hera Capital provides capital, strategic advice, networks and expertise to its portfolio companies.

Media Contact: Catherine Cruz | | | +63.917.519.2274

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