Friday, July 12, 2024

US-based acquires Indian SaaS platform Commerceup

US-based influencer marketing platform said on Monday that it has acquired Indian SaaS-based ecommerce platform Commerceup for an undisclosed sum.

Twelve team members along with executive leadership of Commerceup joined Aspire’s product team to build and scale influence-driven commerce.

“The Commerceup team has built a core commerce platform for some key omni-channel customers in Asia,” said Rajiv Arunkundrum, senior vice president of products at Aspire.

“I’m excited for them to help us jumpstart our product and engineering investments in India. We have ambitious plans to expand our commerce capabilities with Shopify and other e-commerce platforms, and the team is already underway driving impact for our customers,” he said in a statement.

Founded by Piyush Pathak in 2019, Commerceup’s team built bespoke innovative digital commerce solutions, specialising in direct-to-consumer brands needing multilingual, multi-currency, and multi-brand functionality.

The team will now build similar products at Aspire to focus on attributable sales, scaled product seeding, and driving scalable ROI through user-generated content in ads.

“This is a strategic move for enhanced innovation and collaboration, leveraging both companies’ expertise to provide clients with expanded product offerings,” said Pathak.

Commerceup team started developing the product in 2019 and went live with the first client in Dubai in August 2020.

“This move reflects Aspire’s commitment to harnessing the immense talent and technological capabilities available in the Indian market,” said Suhaas Prasad, co-founder and CTO at Aspire.

Aspire has paid out over $100 million to creators and is trusted by over 900 top brands like Ray-Ban, Maude, Garnier, M&M’s and others.



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