Ahead of its upcoming initial public offering (IPO), Kapruka, the pioneering e-commerce platform that has grown into the largest locally-owned global e-commerce platform in Sri Lanka, has announced its intention to develop Kapruka Partner.
|Dulith Herath, Founder and CEO of Kapruka|
Central – a leading market platform for well established brick and mortar stores 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 platform will be similar in nature to the very successful and popular business model implemented by the leading international chain, Amazon, known as “Fulfillment by Amazon” (FBA). “Kapruka Partner Central” will differentiate itself from other markets in Sri Lanka by managing storage at the vendor’s premises, with pick-up and packaging, island-wide delivery, returns, exchanges and service exceptional customer, grouped under a single solution.
Kapruka aims to fund its growth plans through issuance of shares at the next IPO, which will include upgrading existing technology and infrastructure to launch “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 only one of its kind in Sri Lanka – a timely intervention given the significant increase in public interest in e-commerce platforms during and after the pandemic.
The Partner Central project will be carried out through Kapruka E-commerce Ltd., which is a wholly owned subsidiary of Kapruka Holdings Ltd. The company is looking to invest Rs. 200m as the IPO continues, starting next year, and development is expected to be completed by 2024.
Commenting on Partner Central and the future of Kapruka services, Founder and CEO Dulith Herath said: Kapruka partners and the local economy in general. The platform is part of our long-term investment plan following the IPO, with the central objective of optimizing the partner and client experience, thus increasing our ability to create value for all parties. stakeholders. Partner Central, based on the leading Amazon FBA solution, has the potential not only to transform local businesses, but also to help secure the country’s economic status.
Launched in 2002 as a start-up by Herath, with a capital of less than $ 1,000, Kapruka has grown into the largest local e-commerce company. It is now a multibillion rupee business, with no outside investors, using a marketless e-commerce model with fully integrated delivery, serving a wide variety of local and expat Sri Lankan clientele. The company has since been rated and recognized by global giants such as Amazon.com.
As a local e-com “master-seller” in Sri Lanka, Kapruka has also enabled an abundance of local aspiring producers and vendors to sell their products on the site. Kapruka stocks over 135,000 products, has partnerships with over 500 renowned brands and serves over 1.1 million expat customers. The company has over 32,000 square feet of warehouse space and over 100 delivery vehicles to support its operations.