BorderX Opens Chinese E-Commerce Market to West
BorderX was founded in 2014 by former google employees. The company announced that it had raised twenty million US dollars in a round that was led by Kleiner Perkins. The round was a series B round. BorderX is a US subsidiary of Ipinyou. Ipinyou is a Chinese based company. The company’s annual revenue as of 2017 is 19 million US dollars. These are just estimates as the company doesn’t publicize its earnings. BorderX creates Beyond App mobile marketplace that facilitates cross-border e-commerce trade. Global brands that are looking for an access to the growing Chinese middle class market no doubt would find this platform fascinating. The Beyond App can be downloaded on both the Android and iOS devices. What made the app capture the investment sector is that more than fiftly global merchants have signed on. Some of the popular merchants on the platform are Saks Fifth Avenue, GNC, Zappos, Gymboree, DKNY, and Barney’s.
The tech used by BorderX
The beyond app uses cutting-edge uses personalization technology in order to enhance customer experience. It also uses Big data for the same purpose. The advantage of the app is that it has fully localized products and content. The marketing technology on the app is tailored for the local market. The payment options on the app are international. The customs handling platform is internationally recognised and accessible.
Features and Functions of borderX
When a customer places an order on a product using the app the order is automatically placed on merchant.com. The order confirmation is automatically displayed on the app. Less than one percent of all Chinese buyers have an international credit card. BorderX offers a solution for international merchants. They do this by accepting all Chinese payment methods such as Alipay. The customer service team can speak both Chinese and English.