Indonesian online B2B marketplace Ralali has closed a $13-million Series C funding round from new and existing investors, it announced on Friday.
The round was led by Arbor Ventures, TNB Aura and Jo Hirao, the founder of life media platform ZIGExN. Existing investors AddVentures and Qualgro also participated in the round.
Having started out as an online industrial store, Ralali.com has transformed into a B2B marketplace that currently connects 12,000 suppliers including Unilever Food Solutions, PaperOne, Asus, Siam Cement Group and P&G with more than half-a-million micro, small and medium enterprises (MSMEs) across Indonesia.
In addition to a website and mobile app for placing orders, the company now also offers fulfilment and financing solutions for MSMEs.
“Our mission is to help traditional SME grow by leveraging digital tech. This funding will help us scaling up our technology and our team to serve millions of Indonesian MSMEs in fulfilling their business needs through Ralali.com’s digital platform. By becoming a super app, a buyer of designated segment can find curated solutions on merchandises, financing and logistics relevant to their business.” said Ralali CEO Joseph Aditya.
The company claims to have grown its gross merchandise value 5x in 2018 and says it is on track to register 3-4x growth across 25 cities in Indonesia this year.
Ralali had also outlined its international expansion plans after raising $7 million last year in a Series B round led by Japan’s SBI Group, Addventures and global incubator Digital Garage.
It plans to enter the Thai market in collaboration with local industrial supplies giant Siam Cement Group, the parent company of Addventures.