A Platform for Beauty Product Reseller Raena Is Said to Secure 140 Billion Rupiah Follow on Funding

After a $9 million (Rp126 billion) Series A funding in early last year, a platform for beauty product reseller, Raena, is reportedly securing follow on funding. Led by Alpha Wave Incubation and AC Ventures, the company is said to have received funding of $10 million (Rp140 billion).

It is said that there are other investors participated in the funding, including PT Sumber Alfaria Trijaya TBK (Alfamart) and Alto Partners. To date, Raena has secured a total $21 million (nearly 300 billion Rupiah) from investors.

The company is yet to release an official statement.

In a previous article, Raena's Founder and CEO, Sreejita Deb revealed, in 2020, Raena's new business experienced massive growth due to the increasing online transactions during the pandemic.

Raena offers a new concept as a social commerce, managing all the needs and processes that sellers usually do online. From stock management, suppliers, brand selection, and logistics. Those who want to join Raena and have interest to become sellers can focus more on gaining followers on social media, WhatsApp, marketplace channels such as Shopee, Lazada, Tokopedia and others.

"Previously, we  use one-to-one model which connects one supplier to one influencer. The concept has shifted to many-to-many model, which connects various brands and various suppliers to various influencers," Sreejita said.

–Original article is in Indonesian, translated by Kristin Siagian