Sea Limited

What Sea Limited does

Sea Limited is a Singapore-headquartered, NYSE-listed (ticker: SE) global technology company founded in 2009 that operates three integrated digital platforms serving consumers and small businesses across emerging markets. Its core businesses are Garena, a global online games developer and publisher anchored by the Free Fire battle royale franchise; Shopee, the largest pan-regional e-commerce marketplace in Southeast Asia and Taiwan with a leading position in Brazil; and Monee, a digital payments and financial services provider targeting unbanked and underbanked populations. The company also operates SPX Express, its proprietary logistics arm, and Ryt Bank, a Malaysia-based AI-powered digital banking joint venture with YTL Group.

Sea's technology stack is built around a unified ecosystem that combines marketplace commerce, in-game monetization, digital lending, and proprietary logistics infrastructure. The platform serves approximately 400 million active buyers and 20 million sellers on Shopee, and Monee held $9.9 billion in loans outstanding as of Q1 2026. Sea has invested heavily in AI, developing Compass Max v3.5, a 245 billion parameter in-house LLM tailored for Southeast Asian languages and e-commerce, while pursuing partnerships with OpenAI (ChatGPT integration in Shopee, Operator commerce partner) and Google (co-developed agentic shopping prototype). AI-driven customer service handles 80% of Shopee's customer queries and has reduced service costs by 30% year-over-year.

Sea's revenue model spans marketplace commissions and advertising on Shopee, in-game purchases and battle passes on Garena, and lending interest plus transaction fees on Monee. For FY2025, Sea reported approximately $22.9 billion in revenue (up 36% YoY), record net income of $1.6 billion, and adjusted EBITDA of $3.4 billion. Q1 2026 revenue reached $7.10 billion (up 47% YoY) with adjusted EBITDA exceeding $1 billion for the first time. The company's market capitalization stood at $56.81 billion as of June 26, 2026, with operations spanning eight countries in Southeast Asia and Brazil.

Name

Sea Limited

Legal name

Sea Limited

Website

https://sea.com

Company type

Public

Founded year

2009

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Sea Limited is a Singapore-based global technology company operating three integrated digital platforms: Shopee (e-commerce marketplace serving 400 million buyers across Southeast Asia and Brazil), Garena (Free Fire gaming), and Monee (digital financial services with $9.9 billion in loans), serving consumers and small businesses across emerging markets.

Ownership category

akta.pro rank

Product category

Consumer Internet and Digital Services Platform

NAICS

Software Publishers (513210)

SIC

Finance Services (6199)

akta.pro primary industry

Digital Game Distribution Platforms & Storefronts (PC/Mobile/Console) (MPAFABAB)

akta.pro secondary industries

Digital Payments & Money Movement (ACH/SEPA/FPS, Bill Pay, P2P) (FSAGAAAF), Cross-Border & FX Payments Platforms (BPAMAFAK)

Keywords

• E-commerce marketplace
• Online gaming platform
• Digital payments
• Mobile entertainment
• Consumer fintech

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices4 records

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Technology or R&D, Operations, Marketing or Sales, Personnel, Supply Chain, Infrastructure

Revenue model

1. E-commerce (Shopee): Shopee generates revenue through marketplace commissions, transaction fees, and advertising services. The platform serves approximately 400 million active buyers and 20 million sellers, achieving $127 billion in GMV for FY2025 with 27% growth.
2. Digital Entertainment (Garena): Garena operates as a global online games developer and publisher, generating revenue through in-game purchases, battle passes, and content sales. Free Fire is the flagship title with blockbuster collaborations driving growth. FY2025 bookings reached nearly $3 billion with 37% year-over-year growth.
3. Digital Financial Services (Monee): Monee provides digital payments and financial services, generating revenue through lending interest, transaction fees, and financial service commissions. Loan principal outstanding grew 71% year-over-year to $9.9 billion, serving unbanked populations in Southeast Asia with growing presence in Latin America.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Sea Limited operates three integrated digital platforms: Garena develops and publishes online games including the flagship Free Fire battle royale title; Shopee runs a mobile-first e-commerce marketplace connecting approximately 400 million buyers with 20 million sellers across Southeast Asia, Taiwan, and Brazil; and Monee provides digital payments, lending, and financial services targeting unbanked and underbanked consumers. The platforms share underlying technology infrastructure, payment systems, and logistics (SPX Express) to create a unified consumer ecosystem.

Product overview

Sea Limited operates a diversified technology platform consisting of three core business segments: Garena (digital entertainment/gaming), Shopee (e-commerce), and Monee (digital financial services). Garena develops and publishes online games including the flagship Free Fire battle royale. Shopee is a mobile-first e-commerce marketplace serving Southeast Asia, Taiwan, and Brazil, with integrated logistics, payment processing, and AI-powered customer service. Monee provides digital payments and lending services. The three segments are interconnected through shared technology infrastructure, cross-selling opportunities, and a unified ecosystem approach targeting consumers and small businesses across emerging markets.

Differentiator

Problem solved

Functional benefit

Products and services

• Garena Leading global online games developer and publisher. Garena develops and publishes mobile and PC games including the flagship Free Fire battle royale, generating revenue through in-game purchases, battle passes, and content sales across multiple global markets.
• Shopee Largest pan-regional e-commerce platform in Southeast Asia and Taiwan and a leading platform in Brazil. Mobile-first marketplace enabling approximately 400 million consumers to shop online from 20 million sellers with integrated logistics, payments, and AI-powered customer service.
• Monee Leading digital payments and financial services provider in Southeast Asia with growing presence in Latin America. Offers digital lending, mobile payments, and financial services to consumers and small businesses, with $9.9 billion in loans outstanding (71% YoY growth).
• SPX Express Sea Limited's logistics and delivery subsidiary providing fulfillment services across Southeast Asia and Brazil, including advanced fulfillment hubs that support Shopee marketplace sellers with competitive delivery capabilities.

Quantifiable outcome

• Shopee GMV grew 27% to $127 billion in FY2025
• +4 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability8 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• OpenAIcoreTechnology or Integration · 22 June 2026Sea Limited and OpenAI partnered to integrate ChatGPT directly into the Shopee e-commerce platform, enabling conversational shopping for users in eight countries across Southeast Asia and Brazil. Shoppers can discover products through natural language conversations with ChatGPT, while sellers gain access to AI tools for writing product descriptions, marketing content, and handling customer queries.
• AstrocademinorStrategic or Co-development Partner · 7 May 2026Sea Limited led the Series A funding round for Astrocade, an AI-powered interactive entertainment platform that allows users to create playable games using generative AI. The startup has attracted over 20 million users within eight months of launch, with some top creators earning thousands of dollars monthly.
• Digital Industry Singapore (DISG)coreStrategic or Co-development Partner · 21 April 2026Sea Limited established its AI Center of Excellence in Singapore with support from DISG. The center focuses on foundational AI, scalable deployment, AI-native talent development, and new operating models, expected to create at least 100 R&D and innovation-centric roles over the next three years.
• YTL GroupcoreStrategic or Co-development Partner · 1 August 2025Ryt Bank is a joint venture between YTL Group and Sea Limited, launched as Malaysia's first AI-powered digital bank in August 2025. The bank offers 4% p.a. savings rate, Google Pay support, and has become the most downloaded app in Malaysia across Google Play and Apple App Store as of February 2026.
• Ryt BankcoreStrategic or Co-development Partner · 1 August 2025Ryt Bank is backed by Sea Limited and YTL Group, operating as Malaysia's first AI-powered digital bank. The bank has partnered with Alibaba Cloud for cloud infrastructure support and offers a 4% p.a. savings rate extended until June 2026.
• GooglecoreTechnology or IntegrationSea is pursuing an 'AI partner, not AI lab' strategy, integrating technology from OpenAI and Google rather than building in-house models. Sea became 'a key commerce partner for OpenAI's Operator' and is co-developing an agentic shopping prototype with Google. Bernstein analyst notes this full-stack advantage spanning logistics, fulfillment, and licensed fintech would be difficult for new entrants to replicate.

Scale indicators17 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Grab Holdings: Southeast Asian super-app with ride-hailing, deliveries, financial services (GrabPay, GrabFin), and merchant services. Closely comparable super-app model in the same geography, with a comparable fintech and consumer-internet flywheel strategy.
• Mercado Libre: Latin America's largest e-commerce and fintech ecosystem (Mercado Pago), with integrated marketplace, payments, lending, and logistics. Directly comparable to Sea's Shopee + Monee + SPX Express stack and is the incumbent Sea is challenging in Brazil.
• GoTo Group: Indonesia's largest tech platform combining Tokopedia (e-commerce), Gojek (mobility/delivery), and GoPay (fintech). Direct SEA super-app competitor with the same e-commerce + fintech + on-demand services combination as Sea's three-segment ecosystem.
• Lazada Group: Alibaba-owned pan-SEA e-commerce marketplace operating in the same six Southeast Asian countries as Shopee. Direct marketplace competitor with comparable seller tooling, logistics (Lazada Logistics), and consumer base.
• Krafton: Korean mobile game publisher behind PUBG and Battlegrounds Mobile India, a direct battle royale competitor to Free Fire. Closely comparable mobile gaming business model, content cadence, and emerging-market user base.

Broad incumbents

• Amazon: Global e-commerce and logistics incumbent and the original marketplace-plus-fulfilment template Sea's Shopee + SPX Express emulates. Comparable on commerce scale, ad revenue model, and integrated payments ambitions (Amazon Pay), though focused on developed markets.
• Alibaba Group: Global e-commerce and cloud incumbent owning Lazada, AliExpress, and Alipay/Ant Group. Operates a directly comparable marketplace + fintech + cloud + logistics stack at far greater scale, serving as both a competitor (Lazada) and benchmark for Sea's full-stack model.
• Tencent Holdings: Global gaming (PUBG Mobile, Honor of Kings via Riot/TiMi) and fintech (WeChat Pay) giant. Direct competitor to Garena in mobile gaming and a broader incumbent in social + fintech ecosystems relevant to Sea's three-segment model.
• ByteDance (TikTok Shop): Owner of TikTok and TikTok Shop, which is rapidly growing in SEA e-commerce through content-driven discovery. Competes directly with Shopee on the consumer side and increasingly with Garena for user attention, while being a far larger incumbent in social/mobile entertainment.

Emerging players

• Riot Games: Tencent-owned game developer/publisher of League of Legends and Valorant. Comparable in the global PC/mobile publishing model and the free-to-play + in-game monetization approach that drives Garena's Free Fire revenue.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/seagrp
• Xx.com/seagrp
• Facebookfacebook.com/SEA-GROUP-149916485746387

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries4 records

Funding overview

Funding rounds10 records

Investors14 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments23 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sea Limited