Tuesday, October 4, 2016

Myanmar's First B2B E-Commerce Trading Platform Bagan Hub Plans To Raise New Funds

Myanmar B2B e-commerce, Myanmar SMEs, Myanmar Business, Myanmar e-commerce, BaganHub, BaganTrade, BaganMart, Myanmar Exports,
Myanmar B2B

Bagan Hub Co Ltd, a local startup business-to-business trading platform which start BaganTrade.com, it began a new platform, as it seeks to expand its e-commerce business and to get fresh capital.

BaganTrade offered about 600 local companies, and has a 30,000 page views per month. The best part is that international companies can conduct research directly to buy products made in Myanmar.

Its most recent two months, the company was formed BaganMart.com ago after raising $ 100,000 from a local investor, and focuses on the B2B promotion in sectors such as construction, industrial and electrical products.

"We are studying to get to make payments directly from our platform. We still need to prepare for logistics, payment systems, to make it happen. BaganTrade may take more time," said Pyie Phyo Paing, founder and CEO of Bagan Hub Co Ltd.

Paing said that the idea of creating a B2B trading platform to help directly connect suppliers with international buyers, where the space for future growth.

"The currently scenario is that products from Myanmar are sold indirectly in the international market. Suppliers of the country, they can not get a good price. Local providers also lack the internet on the basis of knowledge. We want to fill the gap and become a bridge for external markets, "said Paing to DEALSTREETASIA.

Paing, 35, originally started the site with its own capital of about $ 40,000 in June 2015, increased approximately K$40,000 Nay Min Thu, founder iMyanmar House, and after a year, in mid-2016, has received capital investments of approximately $100,000 from Arkar Soe, as an individual investment. Paing completed his studies in Computer Integrated Manufacturing NTU in Singapore.

Today Bagan Hub, Myanmar SMEs, has a value of approximately $2.5 million and is negotiating a foreign investor for an additional investment of $500,000.

BaganTrade's average transactions ranging from $1,000 to $3,000, according to data collected from local suppliers.

Some of the products produced by the majority of e-mail requests include agricultural products, such as peas and corn products while the actual orders were more Shan traditional bags products, such as handbags, shoulder bags.

They have got about two paid members so far for each website and marketing plan in the near future to make the payment system, said the founder. The paid suppliers will be checked carefully before upload on the site.

Challenges such as the need to train local suppliers to use email to communicate, posting pictures on the platform remain. However, if necessary, BaganTrade help in answering questions.

"We need to use more labour," said Paing about reaching out to the local suppliers through telephone at times email or messaging does not attract them.

"Currently, our platform is only on stage as an advertising platform, while in the long term, we will try to get orders directly through the website," said Paing. His team consists of 21 people, an increase of five since June 2015.


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