SEA’s Business Spend with Supply Chain Embedded Financing Platform for SME



  • Founded in 2016 by experienced entrepreneurs with previous successful ventures and former management consultants with global experience, Supplycart is a game changer in bridging the technology gap in SEA region's SME landscape. Since 2016, we as a team have grown Supplycart by more than 700% in revenue,100+% CAGR,  increased range of offerings from an expansive network of business buyers, suppliers and partners to a proprietary ecosystem. We have come together with our esteemed clients to build a one of a kind platform to scale.

  • First introduced as one of Malaysia’s premier B2B Marketplaces, Supplycart evolved and introduced our proprietary software-as-a-service (SaaS) impacting the digitalisation of business supply chain management with embedded trade payment and supply chain financing capabilities. Combining our marketplace technology as well as open integrations capabilities to multiple softwares, payment and financing platforms/instituitions all in a single platform.

  • Offering an affordable, powerful and versatile  platform to automate and reduce workflow inefficiencies, offering new channels to businesses to digitalise has lead to business not only improving cash flow and bottom line but also gain more recurring revenue

  • Tracking data of over 4,000 businesses across 68 industries  on our platform, we have grown 100+% Compounded Annual Growth rate since 2016 with millions worth of transaction value going through our platform contributed by a multi revenue model.

  • In 2020, despite the pandemic, we were able to secure client lead expansion into new markets in Singapore & Hong Kong as well as solidifying offering of financing with key partnerships with prominent local bank, fintech and cloud accounting partners.

Here are some of our

  • Malaysia together with the rest of the world is experiencing a pandemic. It also means that SMEs are finding it challenging to continue running the manual and traditional way they are used to.

  • This has definitely an impact on business innovation efforts, disconnect between both back end & front end processes, lack of internal control, no visibility on true pricing from sellers, inefficient payment, poor cash flow and financing options.

Key Areas of need of SMEs :

  • Want to lower their business costs, improve productivity and have recurring growth to be better prepared for the global market.

  • Want simple & affordable digital solutions to cope with current challenges and inefficiencies

  • Receiving quick payments as well as assistance in working capital through reliable, convenient channels


Our solution now allows SMEs to achieve :

  • Recurring growth to be cross border trade ready

  • Simple & affordable solution with easy accessibility from anywhere

  • Lower cost & better profitability

  • Increased productivity and business processes digitalisation and automation

  • Transparency of transactions allows access to better cash flow, working capital and payments through reliable and convenient partner channels


Being a Malaysian proud homegrown technology team, we have built 3 key areas embedded on ONE single platform that aligns the process with the results to enrich experiences, develop collaborations, and create value.

  • Software as a service to automate, digitalise and connect both front and back end processes

    • With Work from Home / remote work capabilties ,  it is now possible for multiple internal and external stakeholders to access the platform. 

    • Workflow digitalisation and automation for both buyers and sellers, removing the manual processes and approvals

    • Visibility and analytics of business spend impacting pricing and bottom line

    • Open Api to integrate with any software to allow seamless flow

    • Constant upgrades and updated versions. Businesses would not be stuck with legacy or outdated software ever costing them millions.

  • B2B Private/Closed & Open Marketplace - a single digital channel to facilitate digital trade through listings, quotations for wholesale or bulk pricing and capture orders. SMEs can utilise the system’s ecataloguing feature to create ecosystem of digitalised buyers and sellers

  • Private / Closed means your very own network that you might want exclusivity or specific buyers and sellers in one place, more control and preferred pricing for each of the different buyers they have. Lazada & Shopee are very much B2C focussed, without preferred/wholesale or bulk pricing in place. You buy 1 or 100, same price. 

  • Open sourcing / marketplace platform where businesses can now have an additional b2b wholesale and bulk channel for NEW RECURRING revenue

Ability to provide  visibility and management of supply chain

  • RICH data passing through Supplycart platform such as seller buyer company details, purchase patterns, frequency of types of product and services, historical pricing and more
    • Ability to have direct straight through integrations with financial institutions, fintech, P2P with quick access to obtain factoring, financing and and payment
  • Audited Revenue in 2020: RM7.6 million (75% growth over 2019)

  • >2,000 monthly active logins

  • New countries Singapore & Hong Kong have seen more than 2x growth

  • Thailand, Phillipines expansion by Q3 2021 and next phase expansion to Vietnam & Indonesia

  • SMEs are seeing faster turnaround time leadings towards new revenue channels, quick payments and better cash flow management

How did we perform during covid :


Case Studies


“Throughout the integration and testing process, Jon, Julian, and the Supplycart team were super quick in setting up the test data and super responsive.

They worked closely with our IT team to have items set-up following SAP and also ARIBA technicalities.”

- Purchasing Manager, L’Oreal


“Supplycart’s analytics feature allowed YYC to achieve improved visibility over our procurement activities. Thanks to the analytics feature, we are now able to gain visibility on our spend by branch and category.”

- Executive Assistant to Group Executive Chairman, YYC


“Supplycart has allowed me to standardise orders throughout my company which resulted in savings in pricing and reduction in paperwork”

- Procurement Manager Fitness First (Evolution Wellness)

Business Model

  • 3 scalable revenue streams with high stickiness

  • Good bottom line contributions from software subscriptions fees

  • High transaction value from payments and marketplace contributing to topline

  • Data monetisation

  •  Upcoming formal partnerships to license, white label and co brand  platform to monetize from transaction values and fees

  • Proven co partnership model with local bank and cloud accounting provider


A key market segment for us have the following attributes

  • Mid Size SMES

  • Above 50 employee size

  • Multi location presence

  • Key industries include Retail, Services, Technology, Education, Property, Healthcare and Wellness are some of our sweet spots


There is a huge potential in this space as B2B tech with fintech capabitlies is booming and potential exits through Merger & Acquisition by Listed companies in key industries. Investor confidence in this space shows high potential growth and investment returns. 


Goal & Exit

  • RM 4 million round for 12.5%  (Fully Diluted Equity Round)

  • Targeting breakeven in 2023 with potential M&A or IPO by 2025-2026

  • Public listed saas companies comparing having 20x Multiple of EBITDA at Exit 

  • Investments to multiply by potentially > 3x in the next 4-5 years

  • Potential Trade sale to public listed companies

  • Investors would also have options to exit via ECF secondary market sale

Fund Utilisation :

  • Technology (40%) - Enhance and deepen the product further to cater to regional requirements. Increase further integrations through open apis with softwares, enterprise systems and financial institutions.. Using machines and AI to develop predictive buying.

  • Business Development (30%) - To continue to scale and grow. Focus on growing and building ecosystem with established brands as well as community of businesses to drive digital adoption and facilitate payment

  • Partnerships & Integrations (30%) - Establishing regional partner network to increase reach and expansion at the same time establishing system integrations through open api integrations with eg. Microsoft marketplace, Xero marketplace, and more


Making A Way To Do More Of What Matters 

Our Vision :

  • The pursuit of simplicity by co-creating with smes through every perspective and possibility.

  • The consolidation of resources to ignite the potential of people and processes

  • The optimisation of technology to interface with human intuition

Supplycart is committed to providing solutions that ensure simplicity, provide clarity and drive value. With a commitment to growth with businesses so people are able get on with what really matters to them - beyond the process to the prize.



Jonathan Oh, CEO

Seasoned entrepreneur. Founded his first company in 2009 and sold it in 2013, dealing with medical supplies with 5x ROI.

14 years experience in sales, marketing and business development. Lean Six Sigma Green Belt holder.

Julian Soon, CPO

11 years international experience in audit, management consulting and strategy implementation in Europe, USA, South Africa, Australia & Asia.

MEng in Mechanical Engineering from Imperial College London and trained as a Chartered Accountant (ICAEW) with KPMG London.

Soh Shangrong, COO

Experience in audit and debt restructuring led to founding his first company in 2010, supplying to B2B Fresh producers

13 years experience in sourcing, fulfilment, and vendor management. CPA certified from RMIT, Australia.


Azri Ismail, Tech Lead

10 years experience developing software and mobile applications for industries such as advertising, e-Commerce, digital agency and telecommunications

BEng in Chemical Engineering from University of Sheffield, but found passion in programming and solving tech problems.

Since 2016, we as a team have grown Supplycart by more than 700% in revenue,100+% CAGR,  increased range of offerings from an expansive network of business buyers, suppliers and partners to a proprietary ecosystem. We have come together with our esteemed clients to build a one of a kind platform to scale.


Our story of growth : Biztech Startup Show

The Star - Malaysia’s Growth Champions (2nd)

Financial Times : Asia Pacific High Growth Companies (70th)

Microsoft Emerge X Program (Supplycart)

AmBank Bizhub - Supplycart

Supplycart与YYC签备忘录 (TV2 华语新闻)

B2B: Driving efficiency with e-procurement (The Edge)

Supplycart signs MoU with YYC Group to digitally empower corporates and SMEs (Digital News Asia)

Supplycart 電子採購平台與YYC 助客户转型 (China Press, Business)

Supplying Companies Everything From A TO Z (BFM)

Automating procurement for SMEs (The Star)

BizSmart Challenge buka peluang Supply Cart realisasi impian (Astro Awani)

Malaysia’s Supplycart raises US$2M in Series A funding round

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RM700,000 Pledged

about 2 months ago by Jon

Supplycart is now live! We have received a great lineup of investors as part of this round. Don't miss the opportunity to journey with us to impact the millions of underserved and unserved SMES in SEA region. 

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