iSeller Secures 120 Billion Rupiah Funding, to Expand Business Coverage
The solution has been used by more than 60 thousand business players across 10 cities in Indonesia
POS developer startup iSeller announced a pre-series B funding worth of IDR 120 billion led by AppWorks and Openspace Ventures. Previous investors, Mandiri Capital Indonesia (MCI) and Indogen Capital, also participated in this round.
The fresh money will be used for business expansion to 50 cities in Indonesia, accelerate merchant acquisitions, and strengthen collaboration with important players, such as Grab. It is expected to boost the company's performance up to 500% from the previous achievement.
iSeller's Founder and CEO, Jimmy Petrus said, compared to the Series A round last year, the company managed to achieve impressive growth this year, which is more than 300% year-on-year of merchant acquisitions and annual revenue.
“[..] Through the latest round, we are committed to continuously creating new innovations and updating products, technology, and infrastructure to be ready to reach millions of MSMEs in the process of accelerating digital transformation in Indonesia. We believe that the iSeller solution and ecosystem holistically will be able to take MSMEs to the next level," Jimmy said in an official statement, Wednesday (13/10).
AppWorks' Founder and Chairman, Jamie Lin said, "In just a few years, iSeller has been able to drastically improve MSME business efficiency and establish an excellent reputation. He assessed that iSeller has enormous potential to become the market leader for omnichannel-based business POS platforms.
Apart from iSeller, other AppWorks' portfolios in Indonesia include HarukaEdu, Fabelio, and InfraDigital.
Welcome to Premium Content
Become a DailySocial.id Subscription, you can get unlimited access to discover the best minds of innovation and to perceive the finest tech journalism products in Indonesia. Learn more
Access anytime, only this article.
Rp 7,000 /article
Unlimited access premium content.
Rp 150,000 /month