Ralali Secures USD13M Series C for Indonesian B2B Marketplace
The round was co-led by TNB Aura and AddVentures, with participation from existing investors including SMDV and Skystar Capital
Source: Tech in Asia
Indonesian business-to-business marketplace Ralali raised US$13 million in a series C funding round led by Zigexn founder Jo Hirao and Singapore venture capital firms Arbor Ventures and TNB Aura.
Existing investors AddVentures and Qualgro also participated in the round, according to a statement.
Through its platform, Ralali connects 12,000 suppliers such as Unilever Food Solutions, Asus, and Siam Cement Group to over 500,000 micro, small, and medium-sized enterprises (MSMEs) in Indonesia. With the funding, the company looks to further develop its technology and build out its team.
Ralali also offers MSMEs fulfillment services and access to B2B financing solutions. “By becoming a super app, a buyer of designated segment can find curated solutions on merchandises, financing, and logistics relevant to their business,” said Ralali CEO Joseph Aditya.
Founded in 2013, the company claims to have attained 5x growth in gross merchandise volume last year. Ralali also said it is on track to grow another 3x to 4x across 25 cities in Indonesia this year.