What is HipVan? HipVan Review

Basic Introduction

The company's four founders met at Rocket Internet, a German startup incubator. Co-founder and CEO Danny Tan explained that online consumers have become more mature, their money is becoming more abundant, opportunities have emerged, and they need a variety of goods when they get married and start a new family, and online shopping malls are a good window.

Advantages

Danny Tan believes that there are four main reasons for the market and capital recognition: 1) The e-commerce industry is booming; 2) People's disposable income has increased; 3) Users pursue a high quality of life and have diversified demands for home products; 4) People's awareness of online shopping has increased.

Financing

In July 2013, it received angel round financing and expanded to Malaysia.

In 2015, the company received US$1.4 million in Series A funding, led by Singapore’s Golden Gate Capital, with participation from East Ventures and existing investors Toivo Annus and LionRock Global.

Development History

One year after its establishment, HipVan's annual sales reached 1 million Singapore dollars, and its monthly sales increased 24 times.

As of April 2014, HipVan's website has 100,000 unique visitors per month and sells more than 6,000 products.