Indonesia’s social commerce startup Super banks US$70M Series C led by NEA

Super, a social commerce platform serving smaller towns and rural Indonesia, has closed a US$70 million oversubscribed Series C financing round led by global VC firm NEA.

Insignia Ventures Partners, SoftBank Ventures Asia, DST Global Partners, Amasia, B Capital, and TNB Aura participated. Bain Capital Chairman Stephen Pagliuca, Kleiner Perkins’s former General Partner Eric Feng’s Goldhouse, and Xendit CEO Moses Lo also joined the round.

This funding brings Super’s total capital raised to date to US$106 million. This includes an oversubscribed US$28 million Series B round led by SoftBank Ventures Asia in April 2021.

Also Read: YC-backed Super raises US$28M to grow its social commerce platform in Indonesia

“Indonesia’s tier-2, tier-3 cities, and rural area’s GDP per capita are 3-5 times lower than Jakarta, yet the cost of consumer goods is higher by 20-200 per cent. More than 30 per cent of Indonesia’s GDP came from East Java, Kalimantan, and East Indonesia,” said Co-Founder and CEO Steven Wongsoredjo. “Super is going after a huge untapped market; thus, we will deploy this investment to enable equitable access for people in Kalimantan, Bali, West Nusa Tenggara, East Nusa Tenggara, Maluku, and Papua over the next few years,

Wongsoredjo added that the startup would help more multinational and provincial FMCG suppliers tap into new markets in rural areas and empower more community leaders to optimise their income.

Founded in 2018, Super leverages a hyperlocal logistics platform to deliver consumer goods to agents within 24 hours of the order time. The company said it has partnered with thousands of community agents, such as individuals and warungs, to aggregate and distribute millions of US dollars’ worth of goods to their communities each month.

Super currently operates across 30 cities in East Java and South Sulawesi, mainly targeting the area with a GDP per capita (US$5,000 or lower).

The social commerce venture has launched two private-label brands. A portion of the capital will be used to develop other FMCG private-label brands in the next several years. In addition, it plans to launch cosmetics products, as the desire for this segment is rising across Indonesia.

Also Read: Leveraging social e-commerce to maximise your brand in China

As Super grows its products, services, and experiences continuously, it will launch a feature for community agents to track end-consumer transactions to help community agents offer better-tailored experiences for the end customers.

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