Ralali Confirms Series D Funding of 155 Billion Rupiah Led by SBI Group and Bee Accelerate
Continue expanding the business, including the acquisition of FITMEE product brand from The Fit Company
The B2B marketplace startup, Ralali, confirmed the Series D funding of $10.9 million (over 155 billion Rupiah) led by the previous leading investor in its Series B round, SBI Group, and Bee Accelerate. This round also participated by other investors, such as Beenos Asia, ICMG Partners, and Arbor Venture.
With the additional funds, Ralali has managed to raise a total $33.4 million (more than 476 billion Rupiah) since its establishment. The company announced the series C round in July 2019 worth of $13 million. The leading investors in this round including Arbor Ventures, TNB Aura, and ZIGExN Co., Ltd. founder, Jo Hirao.
Ralali's Founder and CEO Ralali Joseph confirmed the news to DailySocial. "This [funding] has been finalized a few months ago," he said.
Ralali's nine years operation
Ralali started its business as a B2B marketplace in 2013 and is now engaging in various lines outside the marketplace to become a group. Ralali Group aims to be a one stop solution for business ecosystem. Moreover, the company focused on providing for the business players, therefore, all channels are focused on user suppliers and business players.
Along with the growing market demand and business opportunities, Ralali Group develops business solutions to help business people build reputations and develop networks in the digital era. Today's marketplace platform is equipped with various business solutions, from financial (paylater), logistics, MSME support, and enablers, the result of partner collaborations.
Ralali Connect is one of them, a platform aimed to provide MSME players with digital storefront and to connect with various communities with related business interests. There is also Ralali Agent as an on-demand business platform, a solution to find additional income for the community in order to help businesses grow by providing collaboration between digital technology and the workforce in conducting O2O (offline-to-online) processes.
Next, the Ralali Solution Center as a forum for business players still doing the offline appproach to join as a Ralali.com seller, therefore, they can market the products online. Ralali Solution Center is a bridge between sellers and corporations or clients of Ralali.com. Clients or buyers can make purchases via RFQ (Request For Quotation), one of the superior features of Ralali.com.
The next newly released innovation is the Ralali Business Collection to create opportunities for people who are planning to start a business, offering business packages and wholesale prices. This opportunity is open for all kinds of businesses, including coffee, basic necessities, contemporary drinks, and automotive.
Apart from that, the company has penetrated the health segment by producing Primero masks and presenting a tech-based clinic called Neoclinic. It provides antigen swab services, rapid tests, drive thru or home services, and releases vitamin products. The company has also entered the Indonesian porang (konyaku) processing industry with FITMEE, a low-calorie healthy instant noodle. Ralali acquired FITMEE from The Fit Company and already make an announcement on the company website.
In the latest data, Ralali.com is said to have more than 1.3 million registered users, more than 20,000 vendors, 360 thousand products, and more than 6 million monthly visits from all over Indonesia.
–Original article is in Indonesian, translated by Kristin Siagian