Cambodia Investment Review
Tenbox, a Cambodian-based startup that provides a digital wholesale marketplace for retail store owners, has secured a strategic investment from Choice Accelerator.
Tenbox’s platform connects retail owners with suppliers of diverse products, enabling them to source everything they need in one place from a wide range of brands. The startup was founded by two former food store owners who experienced difficulties in finding different products from different suppliers at reasonable prices and with timely delivery.
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85,000 online visitors since launch
Since launching in 2021, Tenbox has served hundreds of F&B businesses, including restaurants, small and medium-sized coffee shops, marts, mini marts, and mom & pop stores across the country. The platform has already accumulated 85,000 online visitors across the country, and has a customer return rate of 70% of its total orders. Currently there are 10,000 products listed in the platform across all types of categories, so customers source anything for their stores with direct price from distributors.
With the investment from Choice Accelerator, Tenbox is able to enhance its digital products, tools and marketplace, increase its product range, grow its team, and expand its fulfillment and delivery footprint to provinces across the country. Plus, Tenbox is committed to be F&B Industry leader to provide new knowledge, tips on know-how, and worth-to-know information that SME owners find it hard to access. The accelerator fund aims to support Cambodian entrepreneurs and startups through capital funding, customized mentorship sessions, strategic connection referrals, and co-working spaces.
Financial support and mentorship
“We are thrilled to have Choice Accelerator onboard as our partner,” said Reasmey Daneth, the CEO and co-founder of Tenbox. “Their financial support, mentorship, and strategic connections will help us better serve our customers and contribute to the growth of the Cambodia’s developing startup ecosystem.”
Jennifer Lin, CEO of Choice Accelerator, added: “We are excited to partner with Tenbox and help them scale their business. The Tenbox founders are a great example of entrepreneurs who are passionate about creating impact and solving problems facing society. We are proud to be supporting them on their journey.”
“We are looking at the promising next step, leveraging on our technology products and strategic partners to accelerate retails & SMEs in Cambodia. We welcome all kinds of resources from potential partners and investors to disrupt this supply chain together.” said Daneth.
