Tuesday, 09 October 2018 10:36

Singapore online print start-up raises US$7.7m for expansion

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Singapore online print start-up raises US$7.7m for expansion Courtesy: Gogoprint

The largest online printing start-up in southeast Asia, Singapore-based Gogoprint, has raised US$7.7 million (A$10.88 million) from institutional and private investors in Series A funding to finance product development and expansion into Asian markets.

The company, which was started in Singapore in November 2015, already has operations in Thailand, Malaysia, Singapore and Indonesia, and plans to expand into Australia in the second half of 2018, followed by New Zealand and South Korea next year.

Gogoprint has its own proprietary algorithms that manage and pool together client orders, distributing the cost of printing through the 45,000 small- and medium-sized businesses which are its partners.

“Gogoprint is seeing tremendous demand for our services from small and medium businesses across Asia-Pacific,” Gogoprint co-founder and managing director David Berghaeuser said.

“We are delighted to have the continued support from all existing investors who share our vision, to build the leading online printing business in Asia-Pacific. Moreover, their support allows us to accelerate our global expansion and product development, amid what’s been an incredible period of growth for our business.”

Kai Hagenbuch, director at Open Printing Group, which led the funding round, echoed Berghaeuser's sentiments.

“There are a handful of big-name online printers operating in the region," Hagenbuch said. "However, each of them has localised operations as they have been unable to truly expand regionally into Southeast Asia due to operational and market form factors.

"Gogoprint has found the right formula to win more and more customers by creating true value: providing something that’s better at a cheaper price point, and with enhanced speed to market.”

Gogoprint claims to have achieved 200% year-on-year growth in customer acquisition, attracting over 45,000 customers with more than 250 million products printed.

Its clients include Honda, Lazada, Lion Air, Yamaha, Nanyang Technological University Singapore and Booking.com.

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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