KitaBeli Indonesia Team
KitaBeli, an Indonesia-based startup, has raised an undisclosed amount of seed funding round to help users do group buying through their platform. East Ventures led the deal with participation from AC Ventures and some angel investors.
The fresh capital will be used by the company to expand locally, potentially across two-to-four cities.
Founded in March this year, KitaBeli is a social commerce platform where users can invite their friends to form groups to receive discounts from suppliers of fast-moving consumer goods (FMCG) products. This concept is widely known as group buying and is already popular among several Chinese e-commerce companies.
“Indonesian consumers are extremely social. They love to share information about deals, discounts, and purchases with their friends and family,” co-founder of KitaBeli, Prateek Chaturvedi, said in a press statement.
“We saw that other platforms have not been able to tap into this behaviour. KitaBeli gives users a convenient way of sharing purchases with their friends and inviting them to buy together and save money. As a result, everyone can get lower prices for daily needs.”
Also Read: Indonesia’s B2B FMCG marketplace GudangAda raises US$25.4M Series A to launch new initiatives
The platform is currently only available in the Greater Jakarta Area while the KitaBeli team operates from both India and Indonesia.
The tech team is based out of Bangalore whereas the operations and marketing teams are located in Jakarta.
This funding comes at a time where the FMGC sector has seen an increase in demand because of the increase in consumption of food at home.
AC Ventures Managing partner said that consumer goods are a massive sector in Indonesia with room for growth and KitaBeli’s unique approach to uses social networks during the process of buying consumer goods can result in a high frequency of purchases.
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Image Credit: KitaBeli
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