- Anchanto’s revenue surges 39% to $11.3M in 2023, eyes 2026 profitability.
- The ecommerce SaaS firm launched 4 products, expanded to 11 markets.
- CEO Dabhade targets fundraising, North American expansion within 9 months.
Four new products and seven new Markets, oh my!
Singapore-based Anchanto reported a 39.2% increase in revenue for its 2023 financial year, reaching S$15.2 million (US$11.3 million).
CEO Vaibhav Dabhade credits the growth to existing customers expanding their volume and new territories and products.
Anchanto launched four new products and expanded to 11 markets, including France, the UK, Dubai, and South Korea.
The company now employs over 300 people and boasts clients like L’Oreal, Panasonic, and some of its own backers.
More money, more North American expansion
Anchanto doubled its cash and cash equivalents in 2023 but is still gearing up for a new fundraising round.
CEO Dabhade aims to close the round within nine months and establish a presence in North America by 2025.
The company expects headwinds in the second half of 2024 but remains focused on replicating its “local expertise and support” in the North American market, targeting mid-market businesses and enterprise customers with multi-country operations for the highest growth potential.
To read the original article: https://www.techinasia.com/anchanto-slashes-losses-by-12-grows-revenue-by-39-in-2023
