SourceSage closes $3M funding; continues expansion plan in online marketplaces and e-
commerce platforms for enterprises
Singapore, October 27 2020 — SourceSage, an ecommerce platform company, has closed
its latest funding round of SGD3 million, putting the company on track to accelerate its
current expansion plans in scaling up its online and enterprise B2B e-commerce platforms.
The latest round of funding is led by Singapore-based cross-border venture capital firm
iGlobe Partners as well as supported by Wavemaker Partners, an early-stage venture
capital firm with dual headquarters in Singapore and LA.
“We are pleased to enjoy continued support from our investors as we continue our journey in
scaling our technology to build different types of ecommerce platforms. This will help deliver
greater value to our clients from different verticals,” said SourceSage CEO, Sim Jian Min.
He added that the new funds raised are earmarked for business expansion into various
areas, as well as strengthening the key management team.
Managing Partner of iGlobe Partners Robert Chew said SourceSage’s recent contract wins
with notable customers are testaments to its ability to address the digital transformation
requirements of companies, especially in the new normal.
“iGlobe has played an active role in walking the journey with SourceSage including
introduction of potential customers and key hires. We will continue to extend support in
SourceSage’s journey in creating a digitised business world,” he said.
General Partner of Wavemaker Partners Gavin Lee said the firm is excited to continue to be
part of SourceSage's mission to empower enterprises and individuals with increased
business opportunities.
“Sourcesage developed its in-depth know-how on building ecommerce features from its
original mission as a commodities software, trading and data platform provider,” he said.
Sourcesage pivoted to becoming a B2B marketplace and procurement platform business.”
About SourceSage
SourceSage is an ecommerce platform company founded in 2015, which aims to empower
enterprises and individuals with their own platforms to start, grow and scale their businesses
online successfully. By providing procurement and distribution services for both MNCs and
SMEs, SourceSage is the intermediary that bridges merchants’ barriers to access, with the
goal of accelerating the transaction process. Our various aggregated platforms engage more
than 7000 merchants from over 14 countries, equipped with more than 50,000 products. Our
clients include DBS Bank, DHL, Mitsui & Co. and many more.
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For further information, please reach out to investorrelations@sourcesage.co