Indonesia-based B2B marketplace platform Ralali snags USD 13 million in a Series C funding round led by Singapore’s Arbor Ventures and TNB Aura as well as by Mr Jo Hirao, the founder of Japanese company ZIGExN. Ralali’s existing investors AddVentures and Qualgro also participated in this round, according to an official statement.
This brings the company’s total funding to USD 22.5 million, following its USD 7 million series B round in September 2018, according to Crunchbase.
Founded in 2013 by Joseph Aditya, Ralali’s mission is to enable Indonesian micro, small, and medium enterprises (MSMEs) to scale and sustain their business. Ralali will use its fresh funding to expand its tech capacity and team in order to help more small businesses in Indonesia, said Aditya in the statement.
The company currently connects around 12,000 suppliers with more than 500,000 MSMEs across the country. Ralali now provides fulfilment and financing solutions for MSMEs. Its financing programs include micro-lending and terms-of-payment have helped over 1,500 enterprises on its platforms.
Ralali also claimed to have grown its gross merchandise value five times in 2018 and that it is on track to register three to four times growth across 25 cities in Indonesia this year. Moreover, the company plans to enter Thailand this year by partnering with local industrial supplies giant Siam Cement Group, the parent company of AddVentures.