KitaBeli, a fast-moving consumer goods (FMCG) social commerce platform for consumers in Indonesia’s second-and third-tier cities, closed a US$20m funding round.
The round was led by Glade Brook Capital Partners (Glade Brook), with participation from existing investors AC Ventures and GoVentures and new investor InnoVen Capital.
The company intends to use the funds to further expand into second- and third-tier cities across the archipelago, while also rolling out new product categories such as beauty, personal care, mother and baby products, frozen food, and more.
Led by Prateek Chaturvedi, CEO, KitaBeli allows users and partners (Mitras) to get discounts and earn money by leveraging their social networks. The app allows consumers to enjoy discounted prices through a gamified and social shopping experience. KitaBeli runs a direct-to-consumer social commerce business model that offers buyers the staples of daily life.
FinSMEs
19/07/2022