Online wholesale marketplace start-up Markato has opened in Hong Kong to link Asian retailers with independent businesses globally.
Markato will connect Asian retailers and other wholesale customers with more than 200 brands and 5,000 products from independent businesses from markets in the US, Europe, and Australia. The company also creates collaborations between global brands and retailers in Asia.
Founded by Brian Lo and Martin Li in July, Markato has reportedly raised US$5M in a seed funding round led by Venture capitalist Lightspeed, its first investment in Hong Kong.
According to Hong Kong Business, the platform is also integrated with cross-border payment and end-to-end logistics, allowing retailers to save at least 20 per cent of transaction and logistics costs. It also offers a 60-day buy now pay, later option for retailers and 90-day free returns.
