Filipino 'happiness in a box' startup secures Singaporean funding


Posted at Sep 22 2017 10:15 AM | Updated as of Sep 22 2017 11:57 AM

MANILA - A Filipino startup that promises "happiness in a box" with its online gadget shop has secured fresh funding from Singapore's Cocoon Capital to grow its business, its founder said Friday.

From a lean team of just 3 customer service staff, PoundIt hoes to employ up to 20 people as it looks to the provinces to sell Apple, Huawei, Samsung and GoPro products at lower prices compared to brick and mortar shops, said PoundIt founder and CEO Kristian Salvo.

PoundIt has been growing at "triple digit" rates month on month, Salvo told ANC's Market Edge with Cathy Yang. He did not elaborate.

"We've been getting great traction, growing our customer base," he said.

"We are growing our selection in-store to provide better brands. We are also looking at the provinces, expanding our reach," he said.