Philippines’ digital-native retail platform Etaily has secured new strategic investment led by Japan’s Sumitomo Mitsui Banking Corporation (SMBC) through its SMBC Asia Rising fund, according to an announcement.
Other investors in this round include Kaya Founders, JGDEV of the Gokongwei Group, and other notable Asia-based families.
The investment brings Etaily’s total funding to over $24 million. Earlier, Etaily raised $17.8 million in a Series A funding round co-anchored by Chinese PE firm SKS Capital and Singapore’s Pavilion Capital.
Headquartered in the Philippines, Etaily aims to build a multi-country cluster across Malaysia, Singapore, and beyond, enabling brands to enter and scale in Southeast Asia.
Etaily claims to operate the eCommerce and marketing arm for more than 80 consumer brands and to combine this with brand-building, such as pet food brand Floof Pets and supplements brand Nutrie, among others. Gross sales have doubled over the last 12 months, accelerating growth in the region’s $230B retail market.
Etaily’s growth is backed by investors, including major conglomerates like Ayala Corporation, Southeast Asia’s oldest conglomerate, and the Gokongwei Group, Landmark’s Cheng family, and the Po family behind Century Pacific Food Corporation.
The company operates in the Philippines, Singapore, and Malaysia, combining operations technology, retail expertise, and a unified distribution framework.
Recently, Etaily announced a partnership with WPP Media to strengthen its retail and media enablement capabilities.
Etaily also announced that Brian Go, Chief Financial Officer of the Gokongwei Group, will join the company board as a new member. The board includes representatives from Temasek’s Pavilion Capital and others.
