SUMMARY
- Unicommerce acquires 42.7% of Shipway, planning full ownership through stock swap or merger within year.
- Acquisition enhances Unicommerce’s offerings with courier aggregation, shipment automation, and integrated marketing for targeted campaigns.
- Shipway’s Q2 FY24 net profit rose by 21%, while revenue grew 13% from client contracts.
Unicommerce, an e-commerce SaaS platform, has acquired a 42.7% stake in Shipway, an e-commerce shipping solutions provider. According to Unicommerce, the deal is a component of their strategy to purchase a 100% share in Shipway. This includes the SaaS firm acquiring the remaining Shipway stake through a stock swap or merger within a year. According to Unicommerce, the Shipway team will keep expanding the Shipway and ConvertWay businesses after the acquisition.
Through the acquisition, Unicommerce will be able to broaden the scope of its offerings to include courier aggregation, shipment automation, and return minimization. Unicommerce stated that Shipway’s “complementary” suite of products will enable it to cover the full e-commerce journey, including pre-purchase and other post-purchase sectors, adding that its present product stack is concentrated on order management and warehousing.
Additionally, it will enable the business to provide its client with an integrated marketing platform for more extensive, segmented, and targeted marketing initiatives. Shipway’s “ConvertWay” marketing tool will enable firms to run WhatsApp and SMS marketing campaigns.
Unicommerce MD and CEO Kapil Makhija stated, “Our collective product suite of software solutions from Unicommerce and Shipway will be transformative, offering an unparalleled, one-stop, seamless solution to simplify ecommerce for businesses in India, including and beyond our 6,500+ customers.”
The acquisition would enable Unicommerce to cross-sell to Shipway’s clientele, which includes brands like Durex, Lenskart, Juicy Chemistry, Tresmode, Dot & Key, Amante, Libas, Sleepy Owl, and Sennheiser, in addition to improving its tech stack.
In 2015, Gaurav Gupta and Vikas Garg founded Shipway, which offers D2C brands end-to-end automation of the post-purchase process by integrating with ecommerce software vendors.
In Q2 of FY24, their net profit increased by 21% to ₹4.47 crore from ₹3.69 crore. Additionally, revenue from client contracts increased by about 13% during the period, from ₹25.93 crore in Q2 FY24 to ₹29.30 crore.
