Indonesia's Ralali.com raises US$7mil Series B funds
By Digital News Asia September 18, 2018
- Funds will accelerate the startup’s mission to serve Indonesia’s 30 million SMEs
- Cnnects around 150,000 resellers, wholesalers, retailers, and transformers
RAKSASA Laju Lintang Pte Ltd (Ralali.com), an online B2B marketplace in Indonesia announces on Sept 18 that it has secured US$7 million (RM28.96 million) from global tech investors including Japan’s SBI Group, AddVentures, the corporate VC arm of SCG (Siam Cement Group), and Digital Garage, a global digital innovator/incubator.
[US$1 = RM4.14]
The funding will accelerate Ralali.com’s mission to serve Indonesia’s 30 million SMEs and aid its expansion towards a global market by providing wider business segments solutions.
“We have expanded beyond MRO and office supplies to other business segmentation such as food supplies, building materials, and automotive supplies,” said Ralali.com chief executive officer Joseph Aditya.
Ralali.com is a B2B e-commerce platform for manufacturers to sell directly to shop owners and merchants. Ralali.com connects around 150,000 resellers, wholesalers, retailers, and transformers.
With more than 10,000 suppliers in 20 cities, the annual transactions have grown five times over the previous year, with an average basket size per transaction of around US$2,000.
The company strives to improve the supply chain visibility of top-tier manufacturers and their potential markets. For the last four years, Ralali.com has harnessed practical experiences in this area and understanding of Indonesia’s market segments well.
The vertical segmentation model provides a direct route to help suppliers sell and transact online, leading to customer profiling.
These data then benefit Ralali.com in building a financial lending platform to support working capital loans to buyers on the platform which will be funded by this investment.
“We believe the B2B e-commerce platform will have promising growth and we can support the company in the area of fintech such as introducing a financial lending platform to it,” said Tomoyuki Nii, executive officer of SBI Investment.
SCG will expand digitally to explore new market potential through Ralali.com’s platform. SCG itself will also take part in Ralali.com’s vertical model, as top-tier providers of business needs. Ralali.com and SCG will keep collaborating in the development of the global/cross-Asean digital supply-chain ecosystem.
Ralali.com also plans to expand beyond Indonesia to Thailand with the collaboration of SCG, a leader in building materials and industrial supplies.
This collaboration expected to happen in 1Q19 and will begin with the building materials and MRO categories.
Joseph said, “B2B e-commerce platforms in emerging markets are still fragmented in terms of supply chain. We strive to enable businesses to have better integrations in terms of product offerings combined with services on one platform. We are aiming to hit US$1 billion in gross sales by 2020.”