Fairmart Secures Seed Funding of USD$1.5M


US$1.5M Seed funding was raised by Fairmart. SME retailers in Singapore can now digitally digitize their products using a platform called ‘InstaShop.’

Quest Ventures led the round, Entrepreneur First participated, as well as SOSV, Vectr Ventures, and Hustle Fund.

The company plans to use the funds for expansion and to increase its business reach.

Fairmart’s CEO Jan Gasparic leads the digital transformation of Minimalists, Groceries, and Specialty Stores in Singapore. Fairmart automates inventory and engages customers across all channels. Store owners pay a monthly subscription so that whenever they scan a product using Fairmart’s smart scanner, it adds that product to the store’s Fairmart page, along with Google and Facebook. Shoppers searching for products can quickly see what’s available and either reserve for pick up or order directly.

The product is now available for purchase at retail stores in Singapore. Register for a demo at Fairmart.

Fairmart was founded with support from Enterprise Singapore’s incubation partner, Entrepreneur First.


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