MANILA, PHILIPPINES — The Philippine eCommerce start-up Prosperna announced today that they raised a seed funding round for a total of $555,000 USD led by Foxmont Capital Partners.
Foxmont invests in Filipino-focused or Filipino-founded early stage technology startups that have the proven ability to scale and lead the Philippine digital evolution. Other investments include a host of other Philippine startups like Kumu, Podcast Network Asia, Expedock, Etaily, and Kraver’s Kanteen.
“In 2020, the Philippines clocked in with the highest average internet usage per person with almost 12 hours per day which is rapidly fueling behavioral change,” said Franco Varona, Managing Partner of Foxmont Capital Partners. “We changed the way we ate, the way we paid our bills, and the way we buy and sell products and services. Prosperna makes it extremely easy for Philippine MSMEs to get started with eCommerce and we’re excited to support their growth.”
Other key investors that joined the round include Johnsen Global Business Ventures. All of which was a follow on to Prosperna’s first investor, DayOne Capital Ventures (DCV).
“When we first heard Dennis’ strategy, we realized that the needs of Philippine MSMEs cannot be served with a one-size-fits-all approach. Philippine MSMEs are the backbone of the Philippine economy, and it’s great to see that a company, like Prosperna, is addressing their needs at a time when it’s most critically needed,” said Keenan Ugarte, Managing Partner at DCV.
Dennis shared that Prosperna’s mission is to empower 100,000 Philippine micro, small, and medium enterprises (MSMEs) with simple and affordable eCommerce software.
According to Dennis, part of the $555,000 USD will be invested in expanding their range of features and growing and supporting their customer base of micro, small, and medium enterprises (MSMEs).
Prosperna’s eCommerce platform enables Philippine MSMEs to market and sell their products everywhere (like Lazada, Shopee, Facebook, Instagram, and Viber to name a few) with their own online store and start accepting digital payments or cash on delivery (COD) and automatically book shipping – all without any technical experience.
Dennis added that “This investment will drive our ability to level the playing field for small businesses in the country by making eCommerce accessible for everyone.”
COVID-19 and the overall impact of the pandemic on the traditional retail sector has accelerated the adoption of technology by many Philippine micro, small and medium-sized Enterprises like Pokleefoods.com, Sweet Bella Desserts, and Beery.ph, who have trusted in Prosperna as their eCommerce platform of choice.
Today, Prosperna’s making eCommerce easy with software made specifically for Philippine MSMEs. Powered by their local customer success team and double-digit growth, they’re helping Philippine MSMEs create their own online branded store so that customers can buy from them directly. The good news is, Philippine MSMEs can go online without having any technical skills and without breaking the bank. For more information about Prospena, you may visit www.prosperna.com or call +63917.659.1948.
