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HappyFresh , the on-demand grocery app based in Indonesia, announced today it has raised a $65 million Series D. with participation from STIC, LB and Mirae Asset Indonesia and Singapore. Resurgent HappyFresh raises $20M for its online grocery service in Southeast Asia. It continues to operate in Indonesia, Malaysia and Thailand.
Ajaib Group , an online investment platform that says it now runs the fifth-largest stock brokerage in Indonesia by number of trades, announced it has raised a $25 million Series A led by Horizons Ventures, the venture capital firm founded by Li Ka-Shing, and Alpha JWC.
Kredivo Holdings , which offers credit services to underbanked consumers in Indonesia and Vietnam, has raised $270 million in what it says was an oversubscribed Series D. He added that Kredivo now drives 3% to 4% of total GMV for its top e-commerce merchants in Indonesia, compared to 15% to 20% from credit cards.
Evermos is an Indonesian social commerce startup with two goals: to let people earn extra income by opening online stores without spending capital and to help small brands grow into household names. Its goal is to reach more than one million resellers throughout Indonesia over the next five years. Image Credits: Evermos.
The rapid growth of e-commerce in Indonesia, especially during the pandemic, is placing increasing demands on its supply chain infrastructure. According to research institution Statistics Indonesia, there are about 5 million small and medium-sized manufacturers in Indonesia. Indonesia’s Kargo comes out of stealth with $7.6M
Indonesian startup CoLearn started as a chain of physical tutoring centers and was in the process of shifting to a hybrid offline-online model when the COVID-19 pandemic hit. This marks the first time both have made an investment in Indonesia. CoLearn started its offline in business in 2018, before shifting to a hybrid model.
BukuWarung , a fintech focused on Indonesia’s micro, small and medium enterprises (MSMEs), announced today it has raised a $60 million Series A. The oversubscribed round was led by Valar Ventures, marking the firm’s first investment in Indonesia, and Goodwater Capital.
BukuKas , one of several startups helping SMEs go online, announced today it has raised a $10 million Series A led by Sequoia Capital India. BukuKas was founded by chief executive officer Krishnan Menon and chief operating officer Lorenzo Peracchione, who met eight years ago while working at Lazada Indonesia.
Today Carsome Group , one of the region’s largest online used car marketplaces, said it plans to acquire listings platform iCar Asia in a transaction worth more than $200 million. Carsome said its investment in PT Universal will allow it to double its automotive transaction volumes in Indonesia. Carsome has agreed to acquire 19.9%
In 2021, nearly 300 million people were shopping online in Latin America; Mexico accounted for 27% of that e-commerce activity, according to Statista. Working in this way, retailers often give up too much margin, on average 20% to 30%, including markups, which makes offline options prohibitive to everyone but the largest brands.
The Indonesia-based financial platform for SMEs announced today it has raised $108 million in Series C funding led by MDI Ventures. Demand increased as more businesses went online during the COVID-19 pandemic and the startup says its user base tripled to 1.5 KoinWorks is the latest. There’s still a lot of room for improvement”.
Edupia , an online learning platform, is bridging that divide with its live classes and private tutoring. Most of its users are in Vietnam, but Edupia is also expanding into other Southeast Asian markets like Indonesia, Thailand and Myanmar, and adding more subjects, including math and coding.
There are a lot of talented people, like chefs and musicians, in Southeast Asia who can earn money through their work online, says TipTip founder Albert Lucius. TipTip wants to help them build up followers in their communities using an offline/online strategy, and monetize by selling content instead of relying on advertising algorithms.
The company, which was founded in 2013, also plans to strengthen its global operations across six countries — Thailand, Indonesia, Vietnam, Myanmar, Cambodia, and the Philippines. In Thailand, Ascend Money has about 70% of market share based on its own research, Thamavaranukupt said.
The COVID-19 pandemic reshaped the education industry, heating up the global edtech startups that made online education more accessible for a wider population, for example in countries like India and Indonesia, Aziz mentioned. based online classes for adults, as its long-term plans, Aziz said.
Ficari, who also co-founded neobank Aspire , told TechCrunch that Lifepal was created to make comparing, buying and claiming insurance as simple as shopping online. Indonesia’s insurance penetration rate is only about 3% , but the market is growing along with the country’s gross domestic product thanks to a larger middle-class.
BukuKas was founded by Menon and chief operating officer Lorenzo Peracchione, who met while working at Lazada Indonesia. Since its launch as as a digital bookkeeping app in December 2019, BukuKas has added new features, including online payments and an e-commerce platform. of Indonesia’s gross domestic product.
In addition to being an online payment gateway, it also offers tools like point-of-sale software with card readers, plugins, payment links and no-code online stores. That entails all our plugins, point of sale software, business software, online stores and recurring payments.
Surjaudaja told TechCrunch that IDEAL was started “with the thinking that consumer lending in Indonesia is broken.”. With that in mind, Indonesia has one of the lowest credit to GDP ratios in the region, signifying that there is a lot of economic value potential that can be unlocked. “We
As part of the deal, Payfazz, an agent-based financial services network in Indonesia, invested $30 million into payments infrastructure provider Xfers. In Indonesia, Payfazz has built a network of 250,000 financial agents to reach people in rural areas where many banks don’t operate branches. ” Singapore-based Xfers Lands $2.5M
While working her way through grad school, Opaper founder Joan McIntosh ran an online bakery. “I After building a minimum viable product that allows social commerce sellers to create an online store, Opaper started onboarding users and raised an oversubscribed seed round of $1 million. It’s not somebody who already has three outlets.
The COVID-19 pandemic has led to a major upswing in virtual learning — where some schools have gone (and stayed) remote, and others have incorporated significantly stronger online components in order to help communities maintain more social distancing.
The duo looked at several startups in Indonesia and India and found the Asian markets were seeing similar consumer internet trends play out — just at a different pace. “Within a short period of time, PriceOye has grown exponentially and has cemented its position as the leading national company in online consumer electronics.
million USD) and above, and will set up another office in Thailand, with plans to expand into Indonesia as well. The-Wolfpack plans to help them set up a physical studio to create an offline experience, too. The firm is already looking to raise a second fund, with a target of $20 million SGD (about $14.9
Indonesia is one of the fastest-growing consumer markets in the world, but consumer data is still hard to find for many businesses, especially smaller ones. But it’s something that’s not available in developing countries like Indonesia,” where many companies still conduct research offline despite its very high smartphone engagement rates.
Kredivo will use the debt facility to help achieve its goal of serving 10 million customers in Indonesia. Credit is one of the largest and most complex areas of the financial services ecosystem and the fact is that Indonesia is deeply underserved on that equation,” he said. a month, or a maximum annual rate of 53.36%.
H2O Hospitality will expand its business further by adding various types of accommodations in South Korea and Japan in 2021 and 2022 and plans to enter Singapore and Indonesia in 4Q in 2022 in line with its Southeast Asia penetration strategy, according to H2O Hospitality co-founder and CEO John Lee.
Interpark offers online travel booking services and international shipping to more than 230 countries and targets Korean, English, Chinese, and Japanese-speaking customers. Yanolja Cloud automates online and offline operations and helps hotel operators to generate more revenues by offering personalized service to guests at a lower cost.
The round also included participation from Wavemaker Partners and Ankur Nagpal, founder and chief executive officer of online course platform Teachable. Shikho launched about a year before the COVID-19 pandemic began, but that didn’t change its approach to product development because it was always meant to be an online learning platform. .
Gadi told TechCrunch that FLIK’s team is experienced in the payments and merchant business, both offline and online. “We As online sellers in this region are becoming more savvy, they would want to be able to optimize their online business more deeply.
The new capital will help Backpackr make a foray into Southeast Asia, including Singapore, Hong Kong, Taiwan, Indonesia, Thailand, Vietnam, Malaysia and the Philippines, in the second quarter of this year with an ambition to become the Etsy of Asia, Kim said in an interview with TechCrunch. .
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