Sunday, 2023 October 1

Social commerce platform Evermos bags USD 8.25 million in Series A funding

Evermos, an Indonesian social commerce platform that carries halal and sharia-compliant products, has bagged USD 8.25 million in a Series A funding round involving Jungle Ventures, Shunwei Capital, and Alpha JWC Ventures.

The platform connects local Islam-oriented brands with resellers and customers across Indonesia. According to an official statement, Evermos plans to use the fresh capital to develop more collaborations with local brands and organizations, as well as provide additional support to its online reseller network.

Founded in November 2018, Evermos incentivizes individuals to share links to its stock on their social media and messenger accounts. This way, resellers are able to own and operate an online business without pouring in vast amounts of capital. Evermos offers halal products in various verticals, like fashion, food, and beauty. The platform now has a network of 20,000 resellers throughout the country, altogether marketing thousands of local products.

The Evermos team. Photo courtesy of Evermos.

The name Evermos is a portmanteau created from the company’s tagline, “Everyday Need for Every Moslem.” According to the firm’s co-founder and CEO Iqbal Muslimin, Evermos wants to answer high demand for halal products in the country while empowering those who need extra income. This way, the platform can be an economic driver for the Muslim community.

“The Indonesian government has been showing support to accelerate the sharia economy by providing supportive regulations and we are keen to support that with our technology ecosystem,” Muslimin said in the statement.

He also believes that given the size of the Muslim population, the sharia economy will have a major positive impact on society. In the future, Evermos wants to tap other opportunities in this segment, such as halal travel and sharia-compliant fintech.

The Muslim-friendly marketplace is a key sector in the Indonesian e-commerce ecosystem. The country’s biggest e-commerce platform, Tokopedia, recently launched a sharia-compliant retail service called Tokopedia Salam. Shortly after, its regional competitor Shopee launched a similar portal called Shopee Barokah.

Khamila Mulia
Khamila Mulia
Khamila Mulia is a seasoned tech journalist of KrASIA based in Indonesia, covering the vibrant innovation ecosystem in Southeast Asia.

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