Ezay Founder and CEO Kyaw Min Swe (C) with EME Investment Analysts Hla Win New (L) and La Woon Yan
Early-stage investment firm EME Myanmar has invested an undisclosed amount in Ezay, a Yangon-based e-commerce platform for rural retails outlets.
An unnamed “influential” startup founder also co-invested.
Founded in August 2019 by former Oway employee Kyaw Min Swe, Ezay provides a mobile platform that connects rural ‘mom-and-pop’ shops with wholesalers. Retailers can buy online for the regular shop stock needs and get the products delivered the next day for nominal charges.
As for wholesalers, they have more frequent orders and regular collections from customers. They can also promote their business through the app.
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The startup is currently planning to upgrade its platform to make logistics, payments, and commerce faster and easier.
“We plan to expand rapidly across Myanmar once we’ve proven this model across our key villages. The expansion will be both geographically and also in services. As we develop a closer understanding of the retail supply chain and customers’ preferences, we can adapt to serve those needs in new and exciting ways. We’ve got a few ideas of how this could develop,” Min Swe added.
“We often hear people talking about ‘digital leapfrog’ in Myanmar, but this investment represents the value that mobile solutions can bring to rural communities across the country. Kyaw Min Swe is a great founder, and we’re very excited to support him with his mission,” EME’s Investment Director Hitoshi Ikeya said.
Based in Yangon, EME focuses on ‘tech-plus’ companies that are layering technology on top of existing networks and industries. It has made six investments to date, namely CarsDB, Joosk Studio, Lan Thit Masterpiece, Mote Poh, Yangon Broom, and Natural Farm Fresh.
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