# Ardent Capital

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ardent-capital

- Industry: Financial Services
- Headquarters: Bangkok, Thailand
- Website: www.ardentcapital.com
- Latest round: Series A (Jun 3, 2013)
- Investors on record: 3

## About

Ardent Capital is an investment firm focused on building and supporting a diverse portfolio of ecommerce companies across Southeast Asia, facilitating innovative solutions for both consumer and business needs.Founded in 2011 and headquartered in Bangkok, Thailand, Ardent Capital is dedicated to developing a portfolio of ecommerce companies. The firm was founded by Paul Srivorakul, who has a history of entrepreneurial ventures. In September 2014, PT Sinar Mas Group acquired part of Ardent Capital's stake through a USD 12.7 mn investment in a TRADE SALE, marking the most recent deal for the company. Since its inception, Ardent Capital has engaged in 2 deals, with the latest funding round totaling USD 12.7 mn.Ardent Capital specializes in fostering a robust portfolio of ecommerce companies across Southeast Asia, emphasizing innovative solutions designed to meet the diverse needs of consumers and businesses. The company’s core offerings revolve around facilitating online retail and logistics, with key players in its portfolio including Salestock, HappyFresh, Snapcart, Goxip, Playbasis, Shopline, Deliveree, and Floship. These companies provide various services such as fashion retail, grocery delivery, targeted shopper engagement, and logistics solutions tailored to small and medium enterprises (SMEs). The primary geographical markets served by Ardent Capital's portfolio companies include Indonesia, Malaysia, Thailand, and the broader Southeast Asian region, addressing the growing demand for digital commerce and efficient fulfillment channels. Collectively, these services aim to streamline the shopping experience while enhancing operational efficiency for businesses.Ardent Capital's revenue model is primarily driven by the ecommerce and logistics solutions provided by its portfolio companies, which operate on several transaction structures including B2B and direct-to-consumer sales. For instance, companies like HappyFresh generate revenue through partnerships with local grocery retailers to deliver goods directly to consumers, while Salestock operates on a retail model that connects fashion brands with online shoppers. The financial transactions within this business ecosystem often involve commissions from sales, subscription fees for premium services, and logistical service charges. Each portfolio company has its unique pricing plans based on the services rendered, focusing on providing competitive rates that attract a substantial customer base. This diverse revenue generation strategy allows Ardent Capital's portfolio to adapt to market demands while facilitating sustainable growth. In the most recent year, the company reported an EBITDA of USD -26,327.80.Ardent Capital aims to leverage its recent funding from the USD 12.7 mn TRADE SALE to expand its portfolio and develop new products within the ecommerce space. The company is focused on increasing its footprint in Southeast Asia, specifically targeting markets in Vietnam and the Philippines by 2025. This strategic expansion aims to enhance their offerings in logistics and online retail platforms, catering to the growing consumer base in these regions. Furthermore, the firm plans to utilize its funding to support innovative projects within its existing portfolio, enhancing operational capabilities and increasing market share.

## Funding rounds

- Series A, Jun 3, 2013 — Wavemaker Partners, Recruit Strategic Partners, GMO VenturePartners

## Investors

- Wavemaker Partners (https://capitalatlas.ai/funds/wavemaker-partners) — Series A
- Recruit Strategic Partners (https://capitalatlas.ai/funds/recruit-strategic-partners) — Series A
- GMO VenturePartners (https://capitalatlas.ai/funds/gmo-venturepartners) — Series A