Thai e-commerce service provider, aCommerce, has raised $10.7 million

aCommerce, a regional end-to-end e-commerce logistics and service provider for Southeast Asia, has closed a Series A funding round of $10.7 million. According to the company, this is the largest Series A for a Thailand-based startup and one of the largest Series A rounds in Southeast Asia to date. The funding was organized by founding investor Ardent Capital, and led by Inspire Ventures, a Bangkok-based firm, with participation from NTT DOCOMO; Sumitomo Corporation Equity Asia Limited; Sinar Mas Indonesia; Asia Pacific Digital; Cyberagent Ventures; and JL Capital, as well as angel investors and executive staff. Paul Srivorakul, regional CEO of aCommerce, explains logistics in Southeast Asia is challenging for vendors because the market is extremely diverse with multiple distribution channels. Low credit card penetration also means customers in up to 90% of local markets prefer cash-on-delivery payments.