iPrice Next Target After Securing Series B Funding, to Boost Partnership for Product Expansion
Recently announced extended funding Series B from JG Digital Equity Ventures
Yenny Yusra - 29 September 2020
During the pandemic, the e-commerce aggregator platform iPrice Group gains a lot of positive business growth. The company claims the website’s total visits have increased by up to 60%. One of the reasons is the increase of people’s interest in doing online sales.
As we mentioned the kind of services iPrice offers in Indonesia and about kind of competition with other players, the CEO of iPrice Group, Paul Brown-Kenyon avoids explaining further. Also, the iPrice Group’s plans to focus its business in Indonesia and targets to be achieved.
“Indonesia is the most important market for us. We have strong product discoveries, price comparisons, and business coupons that are always present helping millions of customers find the best deals online every month,” Paul told DailySocial.
Furthermore, the iPrice Group already has a roadmap that aims to improve products. Whether it is to increase the quality of the product catalog, improve the information presented to users, or develop additional services to help users on their e-commerce journey. The company also plans to optimize the website to provide the best user experience.
“Our focus is to further optimize our products for the local market. Many of our users in Indonesia are accessing our products via the 3G network. We are constantly looking for ways to optimize the website to make it more accessible for these conditions,” Paul explained.
Collaboration and funding
After securing funding worth $10 million or the equivalent of Rp 141 billion in March 2020, iPrice Group received another fresh fund with an undisclosed value. This funding is an extended/addition to the Series B funding received last March. The investor involved in this funding is JG Digital Equity Ventures, Inc.
Furthermore, the company will use this funding to accelerate the roadmap implementation, as well as making new partnerships to expand the product range.
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“We have collaborated with a variety of different partners, ranging from e-wallet platforms, chat/message applications, and travel applications with the objective of bringing iPrice users to them,” Paul said.
Original article is in Indonesian, translated by Kristin Siagian