Fairmart

Market position

Positions itself as serving neighbourhood and independent retailers that existing e-commerce tooling underserves, arguing that platforms built for online-only stores cannot handle the 2,000-plus SKUs typical of a physical shop. Gasparic framed Fairmart as a third wave after D2C e-commerce and large marketplaces such as Shopee and Lazada, bringing marketplace-grade tooling to local stores. He cited a Southeast Asian brick-and-mortar opportunity of about US$625 million and more than US$4.5 billion in annual retail sales lost to digital competitors because store products are not searchable online; these figures are the founder's own claims [7].

Automated product identification from a scan (AI-generated photo, title and description) instead of manual catalogue entry, reducing what the company describes as 200-plus hours of data entry to under 30 minutes; centralised multi-channel sync of stock, pricing and orders across Shopee, Lazada and Google; POS integration via a desktop application; a hyperlocal emphasis on making in-store stock discoverable to nearby shoppers; and no requirement for technical expertise on the retailer's part [0][2][4][5][7].

Technology

A smart scanner device plus AI that identifies a scanned product and generates its listing content, feeding a catalogue that syncs to the store's Fairmart page, Google, Facebook, Shopee and Lazada. A Windows desktop client (x64 installer) integrates with the store's POS to publish listings automatically, and an Android merchant app supports scanning, payments and WhatsApp integration. Third-party coverage describes the approach as combining IoT and SEO to make local products searchable [0][2][4][5][7].

Go-to-market

Direct self-serve sign-up and demo requests via the website, distribution of the merchant app on Google Play, and a downloadable POS-connected desktop client. At the time of the seed announcement the service was available to retail stores in Singapore, with interested retailers invited to sign up for a demo [2][4][6]. The site features customer testimonials from named local shops such as Food Joy, Hock Ghee Seng, The Excellent Spirit and Hop Shop [0][1].

Owners of small and medium physical retail businesses — minimarts, grocery stores and specialty shops — that carry large SKU counts and lack the resources or technical skills to list and manage inventory online [5][6][7].

Geography

Headquartered at 73 Ayer Rajah Crescent #03-11/12, Singapore 139952, in the JTC LaunchPad startup cluster, operating as Fairmart Technologies Pte. Ltd. The service was described as available to retail stores in Singapore in April 2022; a third-party profile refers more broadly to Southeast Asia [2][3][5][6].

History

Founded in 2020 by Jan Gasparic and Daniil Moskovtsov, with early support from Entrepreneur First, described as an incubation partner of Enterprise Singapore [5][6][7]. In April 2022 the company announced an oversubscribed US$1.5M seed round and said the product was then available to retail stores in Singapore [6][7]. The merchant Android app remained in active development, with a Google Play update dated 9 September 2025 [2].

Risks & controversies

Source data is inconsistent: the aggregator startupintros.com reports a $2.0M seed round while the primary press report and the aggregator's own narrative state US$1.5M, and Vulcan Post reports S$2 million; the same aggregator gives conflicting revenue figures ($2M versus under $5M) and employee bands (11-50 versus 21-50), and names executives (a 'Managing Director Cliff Cupidon' and 'Owner Pabs Campomayor') who do not appear on the company's own team page, suggesting possible record contamination. The Vulcan Post article carries a sponsored tag. No funding has been publicly reported since April 2022, and disclosed traction metrics are limited [3][5][6][7].