Manila, Philippines — Philippine eCommerce start-up Prosperna announced that it has raised 555,000 USD in seed funding led by Foxmont Capital Partners.
Foxmont is known to invest in tech startups, founded by Filipinos or focused on serving the Philippine market, with demonstrated ability to scale and drive the country’s digital transformation. To date, their investment ventures include Kumu, Podcast Network Asia, Expedock, Etaily, and Kraver’s Kanteen.
Managing Partner of Foxmont Capital Partners, Franco Varona said, “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.” Noting the way consumers’ behavior shifted including how we buy and sell products and services, he added, “Prosperna makes it extremely easy for Philippine MSMEs to get started with eCommerce and we’re excited to support their growth.”
Johnsen Global Business Ventures also participated in the round. It all happened after Prosperna’s initial investor, DayOne Capital Ventures (DCV), made a significant investment.
According to Keenan Ugarte, Managing Partner at 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.”
Prosperna is on a mission to empower 100,000 Philippine MSMEs with simple and affordable eCommerce software.
The 555,000 USD, according to Dennis, will go toward expanding the company’s feature offerings, as well as helping their growing clientele of micro, small, and medium enterprises (MSMEs).
Filipino MSMEs can now sell and market their products online via Prosperna’s eCommerce platform, without the need for any technical knowledge. They can sell their products on sites like Lazada and Shopee as well as on social media sites like Facebook, Instagram, and Viber. They can also accept digital payments or cash on delivery (COD) and automatically book shipping.
With the additional investment, Dennis added that it will help “drive our ability to level the playing field for small businesses in the country by making eCommerce accessible for everyone.”
Since COVID-19 has had such a tremendous impact on the traditional retail industry, several Philippine MSMEs like Pokleefoods.com, Sweet Bella Dessert, and Beery.ph have turned to Prosperna as their eCommerce platform of choice.
For Philippine MSMEs, Prosperna’s software simplifies eCommerce. They enable MSMEs develop their own internet stores so clients may buy straight from them. You can go online without any technical knowledge or spending a fortune. Prospena can be reached at +63917.659.1948 or www.prosperna.com.
Today, Prosperna makes eCommerce simple, easy, and accessible with software made specifically for Philippine MSMEs. Powered by their local customer success team and double-digit growth, they continue to help Philippine MSMEs create a fully branded online store so that customers can buy from them directly. The good news is, Philippine MSMEs can now go online even without any technical skills and without breaking the bank. For more information about Prospena, you may visit www.prosperna.com or call +63917.659.1948.