Unicommerce, poised for an IPO, is expanding its international operations through client acquisitions.
Unicommerce, a SaaS platform preparing for an IPO, is expanding its global presence by acquiring additional clients, a senior official stated on Tuesday. With an existing clientele of 46 companies across Singapore, the Philippines, Indonesia, the UAE, and Saudi Arabia, Unicommerce aims to further enhance its operations in these markets by onboarding new clients. Among its notable clients in these regions are Redtag, a UAE-based fashion brand, Edamama, a kids’ wear brand from the Philippines, and RSA Global, a logistics player also based in the UAE.
“After establishing a strong foothold in our home market, international expansion has become a key focus area for us, and we are committed to expanding our presence in these overseas markets,” said Kapil Makhija, managing director & chief executive. He highlighted that the advanced state of the domestic e-commerce market allows Unicommerce to offer cutting-edge solutions to its international clients.
Unicommerce’s domestic clientele includes well-known brands such as Lenskart, Fabindia, Zivame, TCNS, Mamaearth, Emami, and others. The company’s product portfolio encompasses various solutions including order management systems, warehouse and inventory management systems, omnichannel retail management systems, and seller management panels.
The company specializes in providing SaaS-based integrated e-commerce enablement solutions, catering to brands, retailers, marketplaces, and logistics service providers. Its solutions cover a wide range of categories including fashion, electronics, FMCG, beauty & personal care, sports & fitness, nutrition, health & pharma, as well as third-party logistics and warehousing.
For its international clients, Unicommerce offers localized support such as local taxation assistance, invoices in local languages, and country-specific integration to meet the unique business needs of each region. For instance, it provides shipping labels and invoices in Arabic for clients in Saudi Arabia and the UAE.
Unicommerce, which filed its draft DRHP in January 2024, is the only profitable company among the top five players in its segment in India as per a Redseer Report for fiscal 2022. Founded in Delhi in 2012, the company has been profitable since FY21. As of September 2023, Unicommerce’s annual recurring revenue stood at Rs 103.74 crore.
In its upcoming IPO, which will be an offer-for-sale, the promoter entity Acevector plans to divest 27.13% of its 38.18% stake in the company. Investor shareholders SB Investment Holdings (SoftBank) and B2 Capital Partners will also reduce their stakes in the offering. The issue is expected to raise around Rs 500 crore at a valuation of approximately Rs 2,000 crore. Unicommerce reported revenue of Rs 60.16 crore and restated profits of Rs 6.33 crore in H1FY24, and Rs 90.58 crore and Rs 6.4 crore respectively for FY23.
