Laku6 Secured Seed Funding from Golden Gate Ventures

One of pre-owned phones marketplaces Laku6 recently closed a funding from Golden Gate Ventures. The funding will  be allocated to develop the team, build inventory, and improve its promotion and marketing activities.

There has yet been any information about the funding amount, but we do know that Golden Gate Ventures’ Founding Partner Jeffrey Paine will be one of Laku6’s Board Members.

“Laku6 is set to grow in developing countries in which more and more people look to upgrade their first smartphone to something else better, and purchasing a pre-owned smartphone is a affordable solution,” Paine stated.

Within this funding round, Mountain SEA Ventures’ Managing Director Andy Zain gets involved as one of angel investors. This funding indicates that the potential of marketplace segment is really promising in Indonesia. Moreover, there are more and more niche marketplaces arise, signaling that anyone can disrupt the dominance of giant marketplaces in Indonesia.

Laku6 is a place where users can find high quality pre-owned smartphone. Laku6 offers “certificate” to guarantee that the items it sells is of high quality. In fact, the items displayed on the site has to pass through 40 certification phases. In addition, Laku6 also provides 30 days insurance for each item it offers.

A couple of months ago, Laku6’s CEO Alvin Yap stated that Indonesia has the potential to be the biggest tech industry in Southeast Asia. This indicates that when a business succeed in Indonesia, it will be easier for it to succeed in other countries.

“If you can be the best in Indonesia, in terms of size and volume ... Then I bet you can be the best in Thailand, Malaysia, and other Southeast Asian countries,” Yap concluded.