Formally known as ICart Group Pte, the company’s business has faced challenges in the face of slowing economic growth, surging inflation and higher interest rates. — Photo by Maria Lin Kim on Unsplash
HappyFresh has shut down operations in Malaysia and Thailand after struggling in those countries, leaving the embattled grocery delivery startup to focus on its main Indonesian market.
The Instacart-style delivery service said it was left with no choice but to cease operations in the two markets, according to posts on its local Instagram accounts on Thursday. It will stop its grocery business effective immediately, just days after the startup said it secured fresh funding and resumed operations in Indonesia.
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