iSeller secures Series A from Mandiri, Openspace to expand its omni-channel sales SaaS platform

iSeller, an Indonesian omni-channel sales SaaS platform, has secured an undisclosed sum in Series A round of financing, co-led by Mandiri Capital, the VC arm of Bank Mandiri in Indonesia, and Openspace Ventures, a leading VC firm in Southeast Asia.

The funds will be used for business expansion, including acceleration of merchant acquisition and on-boarding, as per a press statement.

Also Read: Sleekr, iSeller join forces to automate financial recording process for SMEs

iSeller is also doubling down on technology development to add additional omni-channel merchant solutions and features.

Established in 2017 by Jimmy Petrus, iSeller offers a cloud-based platform for omni-channel businesses by integrating in-store point of sale, online storefront, payment processing, order fulfilment and inventory management within a single interface.

Through its offerings, the startup aims to empower small and medium business owners with “an end-to-end digital ecosystem that allows them to manage and scale their businesses easier, faster and smarter”.

The company claims that it has doubled its revenue and active merchant pool, driven by an increased volume of online transactions during the COVID-19 period. It currently processes more than 5 million transactions a month.

“Since the COVID-19 lockdown in March, we have seen a rapid increase in demand, particularly for our online solutions such as retail online stores, F&B online ordering and e-menus,” said Kevin Ventura, iSeller’s Chief Commercial Officer.

Ventura remarked that the pandemic has increased awareness among retail and F&B businesses on the importance of having suitable technologies to sustain and grow their businesses.

Shane Chesson, Founding Partner at Openspace Ventures, said: “The omni-channel sales software opportunity in Indonesia and the region is ripe for growth. COVID-19 has irreversibly accelerated the adoption of digital payments and the importance of smooth online integrations to multiple partners.”

Mandiri Capital’s investment begins a long-term strategic collaboration between Mandiri Bank and iSeller to create a comprehensive digital business ecosystem. The collaboration would further benefit Mandiri’s 200,000 MSMEs and large enterprises in Indonesia. 

“The robustness of iSeller’s omni-channel platform aligns perfectly with the vision, strategy and digital innovation of Mandiri in the near future. We trust that strategic collaboration with our merchant ecosystem and Mandiri business groups will help iSeller to achieve massive growth, paving the way to profitability,” said Eddi Danusaputro, CEO of Mandiri Capital.

iSeller would leverage on integrations with Mandiri’s products and services to provide merchants with a smooth and seamless transaction experience.

—

Image Credit: iSeller