Completed tens of millions of dollarS A round of financing for Chinese merchants overseas "website construction + drainage" FunPinPin

Figure: Figure worm

Source: 21tech

Author: Poplar

Editor: Li Qingyu

On December 28, FunPinPin, a SaaS service platform for Independent Website Construction in China, announced the completion of a series A financing of tens of millions of DOLLARs, led by Innovation Factory.

Founded in 2020, FunPinPin's core business is to provide a stop-up solution from website building to marketing for Chinese merchants going overseas. FunPinPin said that this round of financing will be mainly used for product research and development and market expansion, focusing on empowering DTC sellers and Amazon boutique sellers.

Since 2020, the epidemic has brought many impacts to the global economy, but it has also stimulated the rapid development of the e-commerce retail industry, especially in the post-epidemic era, the foreign production economy has almost stagnated, and China, as the world's factory, has become the largest "supplier" of global e-commerce products.

In this context, a large number of Chinese sellers have also begun to start cross-border e-commerce business. At the same time, the Amazon suspension incident has made many cross-border e-commerce merchants begin to realize that relying on a single platform will bring many risks, and taking into account the multi-channel layout of the platform and independent stations will be an important strategic means for cross-border e-commerce to reduce risks and build a global brand image in the future.

In fact, unlike the market form monopolized by major domestic e-commerce platforms, the market share of overseas platform e-commerce is relatively low, which shows that users are more accustomed to shopping on independent e-commerce websites.

According to the data, the decentralized e-commerce platform Shopify has sat on millions of merchants, and has surpassed Ebay with an annual transaction volume of 119.6 billion US dollars to become the second largest platform for e-commerce in Europe and the United States. During the pandemic, Amazon's sales grew by 47.5 percent, while Shopify's sales grew by as much as 95.7 percent.

Despite this, in 2021, only 26% of the global online stores use Shopify to build websites, while the online stores that use more established website building tools are nearly 3 times that of Shopify stores, which shows that the independent station SaaS track still has a lot of room for development.

FunPin broke into the track and saw exactly that. Zhong Yang, chief operating officer of FunPinPin, said that the FunPinPin team is a team with overseas advertising and marketing genes, and the cross-border e-commerce customer resources, marketing data and market understanding accumulated over the years have given FunPinPin a natural advantage in the SaaS platform of independent stations.

For example, unlike other SaaS platforms that only provide website building services, FunPinpin provides integrated "independent website building + drainage" closed-loop services that include website building, advertising account opening, advertising optimization and advertising credit line services.

For independent stations, the drainage cost often accounts for half of the revenue of independent stations, which is the most important link in the operation of independent stations. FunPinPin can open up cooperation channels with Google, Facebook, TikTok and other head traffic parties for merchants, help merchants obtain resource support from traffic parties, enjoy VIP-level advertising marketing services, and effectively ensure the stability of advertising accounts; at the same time, FunPinPin can also help merchants obtain advertising quotas and help merchants avoid advertising policy minefields.

As the lead investor of this financing, Ruan Fei, director of Innovation Factory Investment, said that FunPinPin has combined the core needs of two independent station sellers, namely station construction and drainage, and has become the leading website construction service platform in the market. In the future, FunPinpin may be able to exhibit more imaginative products around the existing cross-border seller and overseas user data.

At present, FunPinPin has served more than 1,000 cross-border e-commerce customers, including women's anti-aging brand MISPEP, high-end personal care brand JOV, consumer-grade AR glasses brand nreal, etc.

Editor: Lu Taoran