Former Uber, Deliveroo execs launch HK wholesale platform

Former Uber, Deliveroo execs launch HK wholesale platform

Hong Kong welcomes a game-changing entrant to the online wholesale marketplace arena with the official launch of Markato. This innovative startup, founded in 2023 by Brian Lo and Martin Li, former general managers at Deliveroo and Uber China respectively, is set to transform how Asia-based buyers and retailers source products from global suppliers.

Markato is poised to fill a critical gap in the market, offering a carefully curated platform where Asia-based buyers and retailers can access products that were previously unavailable in the region, thanks to partnerships with global suppliers. In a significant milestone, the startup secured $5 million in seed-round funding from renowned venture capitalist Lightspeed, marking Lightspeed’s inaugural investment in Hong Kong.

Online platform Outlook Start-Up reports that Markato boasts a roster of over 200 partner brands, predominantly hailing from Australia, Europe, and the United States. Impressively, approximately 80% of these brands were previously beyond the reach of Asian buyers and retailers, making Markato a gateway to a treasure trove of unique products from global brands.

Markato’s user-friendly website is thoughtfully organized, with products categorized under Home & Living, Accessories, and Beauty & Wellness, ensuring an effortless shopping experience.

What sets Markato apart is its commitment to streamlining the entire B2B process. The platform seamlessly integrates cross-border payments and shipping services, simplifying the complexities associated with international transactions. Additionally, Markato introduces a consumer-friendly 60-day “Buy Now, Pay Later” feature, a testament to its dedication to user convenience. Not stopping there, Markato also offers free returns on initial orders, further enhancing the appeal of its platform.

Brian Lo, co-founder of Markato, expressed his excitement about the company’s vision, stating, “We are dedicated to revolutionizing the wholesale marketplace landscape in Asia. Markato will empower buyers and retailers to access a diverse range of high-quality products from global suppliers conveniently. Our goal is to make the wholesale shopping experience smoother and more accessible.”

Markato’s innovative approach and strategic partnerships are set to disrupt the wholesale marketplace industry in Asia, providing a dynamic platform for buyers, retailers, and global suppliers to connect seamlessly.

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