Indonesian social commerce enabler Desty nets fresh financing in Square Peg-led round

Indonesia-based social commerce enabler Desty has raised a new round of undisclosed funding led by Square Peg.

This round comes less than a year after it secured US$5 million in pre-Series A financing from East Ventures, Jungle Ventures, 5Y Capital, and others.

The startup plans to use the new funding for product optimisation, team expansion and user acquisition.

Desty provides a suite of digital tools that helps merchants- from online sellers to F&B firms- operate their businesses through a unified platform. It claims to have reached almost one million users with 33x year-on-year growth.

It has four core products:

1. Desty Page (landing pages creator optimised for link-in-bios with 15 free features and integrated hyperlocal payments in just minutes for free),
2. Desty Menu (helps F&B establishments to simplify the ordering process without a waiter or cashier for dine-in or delivery orders),
3. Desty Store (an online web store builder with no coding skill needed, fully integrated with hyperlocal payments and logistics options, free from subscription),
4. Desty Omni (product management, chat management, promotion management, inventory control, and order processing across marketplaces within a single platform).

“Indonesia has a unique digital economy with notable fragmentation across merchant traffic, sales channels, payments and logistics. We strongly believe that our full-stack approach to empowering merchants with our suite of enablement tools will solve their pain points most effectively,” said Desty Co-Founder and CEO Mulyono Xu.

Also Read: Xiaomi backer 5Y leads ex-BAce Capital managing partner’s social commerce startup Desty’s US$3.2M round

Over the last few months, Desty has rolled out new features that have improved merchants’ capacity to handle transactions. The startup claims to have seen an average 250 per cent month-on-month growth of GMV over the last quarter.

Its notable merchants include celebrity-owned Luna Habit and NAMA Beauty by Luna Maya, Purnama Beauty by singer Lesti Kejora, Farrah Quinn, DAMN I Love Indonesia of Daniel Mananta, Janji Jiwa, Fore Coffee, Dore by Letao, iBox, Electronic City, Nacific, Old Chang Kee, Omija, Samjin Amook, Vilo Gelato, BudsOrganic, Titan Tyra, Nasi Kulit Syuurga, and Kopi Nako.

Square Peg is a global technology investment firm managing more than US$1 billion in committed capital. Over the last few years, it has actively deployed over US$200 million in Southeast Asia into companies such as PropertyGuru, FinAccel, Pluang, and Doctor Anywhere.

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