Singapore-based e-commerce startup Una Brands has raised a US$40 million ($53.42 milion) seed round to buy and scale e-commerce brands based in Asia Pacific.

The funding round is backed by 500 Startups, Kingsway Capital, 468 Capital, Presight Capital, Global Founders Capital, among others. Una Brands has also secured investment and backing from Maximilian Bittner, CEO of Vestiaire Collective and former CEO of Lazada.

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