Kapruka launches platform “partner central”
View(s):Kapruka, the pioneering e-commerce platform that has evolved into Sri Lanka’s largest locally owned global e-com platform, ahead of its upcoming initial public offering (IPO) has announced its plans to develop ‘Kapruka Partner Central’ – a premier marketplace platform for well-established brick and mortar shops in Sri Lanka.
The platform will connect buyers and sellers and allow sellers to choose multiple order fulfillment options, including fulfillment by Kapruka itself, the company said in a media release.
The platform will be similar in nature to the highly successful and popular business model implemented by leading international chain, Amazon, known as ‘Fulfilment by Amazon’ (FBA). ‘Kapruka Partner Central’ will differentiate itself from other marketplaces in Sri Lanka by handling the storage at seller’s premises, with picking and packing, island-wide delivery, returns, exchanges, and exceptional customer service, bundled together under one solution.
Kapruka aims to fund its growth plans through share issuance from the upcoming IPO, which will include upgrading existing technology and infrastructure to launching the ‘Kapruka Platform Services’ which will carry its new initiatives. The e-commerce site plans to launch the Partner Central initiative in 2022, which would be the first of its kind in Sri Lanka.
The Partner Central project will be carried out via Kapruka E-commerce (Pvt) Ltd which is a fully owned subsidiary of Kapruka Holdings Ltd. The company plans to invest Rs. 200 million of the IPO proceeds towards this, commencing next year, with development expected to be completed by 2024.
Founder and CEO, Dulith Herath, said, “We look forward to once again transform the local e-commerce industry through the revolutionary Kapruka Partner Central platform, which stands to have a significantly positive impact on Kapruka’s partners and the local economy in general. The platform is part of our long-term investment plan further to the IPO, with the central goal of optimising partner and customer experience, thereby elevating our ability to create value for all stakeholders alike.”
Having launched back in 2002 as a start-up by founder Mr. Herath, with a capital of less than US$1,000, Kapruka has transformed into the largest locally-owned ecommerce company. Kapruka stocks over 135,000 products, has partnerships with 500+ renowned brands and serves over 1.1 million expatriate clients.
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