Supplycart

Supplycart Technologies Sdn Bhd is a Malaysian B2B e-procurement firm that provides a cloud-based solution to streamline the purchasing process for businesses. The company was founded in 2016 by Jonathan Oh and Soh Shangrong, who previously co-founded the online grocery platform Freshcart in 2014. Leveraging his earlier entrepreneurial experience, which began with a career in the medical industry, CEO Jonathan Oh aimed to digitalize workflows for businesses.

The company's core offering is ADAM, a source-to-pay e-procurement platform designed to manage and simplify corporate spending. ADAM allows businesses of all sizes to digitize their entire procurement workflow, from purchase requisitions and vendor sourcing to invoicing and payment, on a centralized system. Key features include budget management to control spending, a three-way matching system to align purchase orders, receipts, and invoices, and integrated e-invoice verification compliant with local regulations. The platform is built to integrate with existing enterprise software like SAP and Microsoft Dynamics, enhancing its functionality for larger clients. This digital approach provides clients with greater visibility over expenditures, helps enforce purchasing policies, and reduces costs associated with manual procurement.

Supplycart's business model is based on providing its procurement technology to a range of corporate clients, from SMEs to large enterprises, including notable names like L'Oréal, Grab, and Unilever. The company generates revenue through its platform and has successfully attracted significant investment to fuel its growth. A seed round in 2016 raised US$500,000 from investors including KK Fund and Cradle Fund. This was followed by a US$2 million Series A round in 2018, led by FirstFloor Capital and Aucfan Co Ltd, aimed at scaling services across Malaysia and expanding into the Southeast Asian market. The company has received recognition for its growth, being named to the Financial Times' list of High-Growth Companies in the Asia-Pacific region multiple times.

Keywords: e-procurement, B2B procurement, source-to-pay, vendor management, ADAM platform, spend management, digital procurement, purchase order management, workflow automation, budget control, SaaS, Malaysian startup, Jonathan Oh, corporate purchasing, supply chain technology, procurement software, invoice management, cost reduction, enterprise software integration, Southeast Asia tech