Markato launches to revolutionize B2B wholesale industry in Asia

Photo courtesy Markato

Opinions expressed by Digital Journal contributors are their own.

Markato is a groundbreaking online wholesale marketplace for independent retailers and buyers in Asia. This marketplace has officially launched its platform in Asia, starting with Hong Kong. Founded by entrepreneurs Brian Lo and Martin Li, Markato aims to transform the B2B wholesale industry in Asia by providing a streamlined and cost-effective way for retailers to access premium independent brands worldwide.

A Brand On A Mission

Markato has one mission only – to connect retailers and buyers in Asia with unique and premium independent brands primarily from the US, Europe, and Australia. The platform not only offers a curated selection of brands but also facilitates cost-effective transactions and logistics. In Q2 2023, Markato secured a significant milestone by raising 5 million USD in seed-round funding led by global venture capital firm Lightspeed, marking their first investment in Hong Kong. Other institutional funds and prominent international technology sector angel investors also participated in the funding round.

The company’s rapid growth since the funding round is evident – their team expanded to 19 employees, and they have formed partnerships with over 200 brands. What is fascinating is that 80% of these brands were previously unavailable in Asia. Now, 90% of these brands’ products are sold exclusively through Markato—their platform grants retailers in Asia access to over 6,000 unique products. The company aims to increase brand supply tenfold by the end of 2023.

Markato’s platform seamlessly integrates cross-border payment and end-to-end logistics functionality. It enables retailers and buyers to reduce transaction and logistics costs by at least 20%. Moreover, the company offers a 60-day Buy-Now-Pay-Later (BNPL) option for retailers and a 90-day free returns feature, eliminating the risk of unsold inventory for retailers.

Founder Brian Lo expressed, “Markato creates opportunities for Asia’s retailers to tap a global marketplace and access a curated mix of unique global brands by providing cost and time-efficient operational support while eliminating capital constraints and inventory risk for the buyers.”

Martin Li, Markato’s co-founder, highlighted the platform’s role in connecting brands with new retail opportunities in Asia. He stated that “Markato is transforming the way the wholesale sector operates by connecting brands with new retail opportunities in Asia by leveraging proprietary technology and cross-border infrastructure.”

Markato’s vision extends beyond Hong Kong. They plan to expand across the region – Markato is now available in Singapore and aims to launch in more markets before end of year. The startup aims to build a network of over 2,000 buyers and 2,000 brands. To support this expansion, Markato is increasing its workforce by hiring engineering, product, and business development talent. 

Rahul Taneja, Partner at Lightspeed, expressed enthusiasm about the partnership with Markato. He emphasized their mission to serve independent businesses in Asia and enable global access to premium products. Lightspeed is confident in Markato’s ability to transform the end-to-end retail experience in Asia.

Markato is making its mark by digitizing the wholesale buying experience and providing a platform for retailers to access a diverse selection of independent global brands. It is poised to revolutionize the B2B wholesale industry and empower retailers and buyers with new opportunities for growth and success.

To learn more about Markato’s journey in the wholesale marketplace, visit their official website at markato.com. Keep an eye out for their upcoming campaign. They showcase their top 20 beauty & personal care brands at the world’s largest trade show, Cosmoprof.