Malaysia-based marketing services provider <a href="https://www.theedgesingapore.com/tags/shopper360" target="_blank">shopper360</a> is investing RM2.0 million ($0.64 million) in the gig economy as it acquires a 21.5% equity interest in Troopers Innovation.

See also: <a href="https://www.theedgesingapore.com/capital/results/shopper360-reports-37-fall-1h-earnings-096-mil-higher-expenses-new-subsidiaries" target="_blank">shopper360 reports 37% fall in 1H earnings to $0.96 mil on higher expenses from new subsidiaries</a>

Troopers is a digital manpower solutions company that specialises in part-time recruitment, human resource management and technology enabled job matching for the gig-economy. To date, Troopers, with its in-house recuruitment, selection and training, has hired over 100,000 headcounts over the past three years.

According to the group, this partnership will help it unlock potential in improving core businesses through improved recruitment processes; expanding services upstream through capturing large underserved clients, gaining entry into new markets such as non-FMCG industries, and capitalising on anticipated favourable market conditions; providing qualified sales leads for the group to harvest; and increasing income through sale of shares with the growing value of recruitment platforms.

“We are thrilled to have Troopers as our new strategic partner. As our core businesses are highly reliant on sourcing and recruiting suitable talent, this investment allows us to improve our own recruitment processes through increased efficiency and data,” says Sue Ann Chew, executive chairman and group managing director of shopper360.

For more stories about where the money flows, <a href="https://www.theedgesingapore.com/section/capital" target="_blank">click here for our Capital section</a>

“shopper360 is now positioned to further develop its services upstream. This partnership gives us entry into new and underserved markets while aligning with and strengthening our regional expansion. The Troopers team has demonstrated that it has the capabilities, experience, and resources to help propel shopper360 to its fullest potential,” adds Chew.

Shares in shopper360 closed at 14 cents on Aug 27.

shopper360 invests RM2 mil in gig economy

Qarbotech named winner of inaugural EQT Impact Challenge

MSCI boss warns of climate risks

Keppel to acquire 50% stake in European asset manager Aermont Capital for up to $517 mil

Local banks 'resilient' in 2023, but MAS warns of deteriorating asset quality, climate transition risks

shopper360 invests RM2 mil in gig economy

Related News

Highlights

Qarbotech named winner of inaugural EQT Impact Challenge

Related News

65% of insurance and insurance asset managers expecting more M&A activity in Singapore and Hong Kong in 2024

Keppel Corp acquires European fund manager in wider FUM push

From one war to two: OCBC expects slower loan growth, sustained NIMs after 3QFY2023