Left to right: Social Bella founders Christopher Madiam, Chrisanti Indiana, and John Rasjid
Indonesia-based beauty ecosystem platform Social Bella today announced that it had received a new investment led by existing investors Temasek and L Catterton. East Ventures, Jungle Ventures and other existing investors also contributed to the investment, totalling over US$60 million.
The funding round followed a US$56 million funding round that the company announced in May 2021 which it used to support its regional expansion plan.
Social Bella President and Co-founder Christopher Madiam commented, “Sustainability has been our core principle since day one, and all of our bold moves are always well calculated. This is why we have been able to generate stellar growth despite the pandemic and raise new funds from marquee investors, validating our business model and robust fundamentals.”
“While we have never been afraid to be an industry game changer, our relentless pursuit of sustainable growth over the long run defines us and will continue guiding our path forward,” he continued.
e27 is reaching out to Social Bella to find out their plans with the new funding
Also known as the omnichannel speciality platform Sociolla, Social Bella claimed to have margins increasing and its footprint expanding 20x since 2020.
Targeting Southeast Asia’s US$60 billion SHEconomy categories, it aims to start with the region’s over US$10 billion beauty market.
Following its 48 stores across 15 cities in Indonesia, the platform has also started expanding into Vietnam with 13 locations at the moment.
In addition, it has also launched Lilla, a business unit focusing on the mother and baby market. The store has recently opened its first physical store in Indonesia.
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Image Credit: Social Bella
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