Orderfaz, a Bandung, Indonesia-based fintech startup for social commerce sellers, raised an undisclosed amount in Pre-Seed funding.
The round was led by 1982 Ventures.
The company intends to use the funds to bring on new hires across all functions to drive platform development and market expansion.
Led by Reynaldi Gandwidjaja, CEO, Orderfaz is a payment and commerce enablement platform designed for social commerce, helping brands and sellers improve online sales conversion rates and bring their online businesses to the next level. It optimizes digital sales and operations while providing sellers increased sales through social commerce channels, lower transaction fees and empowering brands to gain greater control over their digital businesses. Based on the unique characteristics of the Indonesian market where many online transactions are completed via WhatsApp, Orderfaz has developed a Smart WhatsApp Keyboard feature, which allows sellers to close deals with WhatsApp at ease, helping sellers review order lists, send invoices, and share product checkout links to buyers all on the WhatsApp interface. Its unified One-Click Checkout simplifies the purchasing process through the browser plug-in, while sellers are able to track buyer purchase history, reducing fraud risk by tracking the history for each authenticated buyer. The system also offers community and training for brand owners to network and connect, share best practices, and improve their digital sales and marketing skills.
Orderfaz has signed up over 600 sellers in the first two months after launch and expects to double its user base over the next month. The company plans to develop an omnichannel marketplace to manage orders across Orderfaz and third-party e-commerce platforms such as Shopee, Tokopedia, and TikTok. They will also develop a customer loyalty program to reward reliable buyers.
Orderfaz is led by seasoned entrepreneurs, including co-founders Reynaldi Gandawidjaja (Chief Executive Officer), Mohamad Iqbal (Chief Commercial Officer), and Jessica Alvina (Chief Product Officer), former senior executives at social commerce site Evermos.
FinSMEs
13/07/2023