RateS Announces Series A Funding Led by Vertex Ventures and Genesis Alternative Ventures

The social commerce platform RateS today (22/2) announced Series A funding with an undisclosed value. Vertex Ventures and Genesis Alternative Ventures lead this funding. Previously, the Singapore-based startup had secured seed funding from Alpha JWC Ventures and Insignia Ventures Partners in 2018.

Fresh funds will be focused on developing RateS's business in Indonesia, including market penetration to tier 2 and 3 cities. The objective is to increase the number of resellers, which currently reached up around 500 thousand people.

"The benchmark for RateS 'success lies in how much we can help increase reseller revenue and business [..] Our shared vision is to revolutionize social commerce through technology, create digital entrepreneurs, and increase digital literacy for people to run the business smoothly and more. profitable," RateS' Co-Founder & CEO, Jake Goh said.