Singapore tech start-up, Arcadier, announced on Feb 24 that it has clinched a deal to build an e-trading platform for Canalzon, which is dubbed to be the "largest online marketplace for Central America".
According to a media statement by Arcadier, it provides a technology platform for partners who want to develop online marketplaces; and uses standardised technology to offer them a quick turnaround in development and at lower costs.
Developed in under four months, the Canalzon (www.canalzon.com) marketplace went live on Feb 9 in Panama, carrying over 2,000 products from 30 well-known merchants in industries ranging from retail, electronics, sports, music, beauty to fashion.
According to Hilt Tatum, director of Arcadier, this deal has given the local start-up an immediate entry into the overseas market and an opportunity to tap the growing e-commerce market in Latin and Central America.
Arcadier currently operates in Singapore, Australia and the Philippines; and was started in December 2012 by three founders - Australians Dinuke Ranasinghe (CEO) and Paul Cascun (CTO), as well as Singaporean Kenneth Low (COO).
Arcadier also announced that it has recently closed a seed funding round of US$1.75 million (S$2.36 million). It added that the funds raised will be used for the company's market expansion, which includes R&D to expand the product portfolio, improving the infrastructure and growing the resources to support business.
"Many industries are undergoing a lot of disruption and we want to provide our partners with opportunities and access to game-changing technologies. We work directly with partners who are industry experts and looking to solve specific problems or seize market opportunities. We help them to design a marketplace that suits their very specific needs, and in a quick and inexpensive way," said Ranasinghe.
"The Canalzon site is just a start for us. We are growing on a tear and are rapidly increasing our global footprint. Over the next six months, we're planning on launching solutions with partners in the F&B, retail, property and industrial B2B sectors across the region," he added.
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