Procurement platform gets attention

Published 15 July, 2019

NEW funds recently secured by business-to-business (B2B) procurement platform Lapasar will help the company further automate its processes and accelerate its growth.

 

Last week, Lapasar announced that it had received investment totaling US$500,000 (RM2mil).

 

The investment round was led by SeedPlus, a Singapore-based venture capital firm, which invested alongside angel investors from NEXEA, a Kuala Lumpur-based Angel-VC investment firm.

 

The funds will be used to support product development to further automate ordering and Request for Quotation (RFQ) processes as well as support business development activities.

 

Lapasar is a marketplace that connects corporations to suppliers of products and services across Malaysia.

 

“In the past twelve months, Lapasar has been experiencing an impressive transaction growth of over 20 times. Currently, our platform already has a database of over 10,000 suppliers of products and services from all over Malaysia. These responses give us confidence to accelerate our growth further,” says Lapasar chief executive officer and founder Thinesh Kumar.

 

Source from The Star