Content360 2023
iSeller completes US$12m Series B funding as it begins rapid expansion

iSeller completes US$12m Series B funding as it begins rapid expansion

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Indonesia’s solutions platform for merchants, iSeller, has completed a US$12 million Series B round of financing. Intudo Ventures led the series round while KVision (Kasikornbank) and existing investors, Mandiri Capital Indonesia and Openspace Ventures, participated, according to a release.

The solutions platform, which provides solutions for businesses such as digitalising sales and operations, plans to launch a new edition of its flagship items that will focus on user experience, performance and reliability. New payment and marketplace integration are also in the works in an attempt to improve the user experience as they help sellers of all sizes and skill go digital. 

The platform aims to achieve profitability within the next three years and plans to do this by expanding its reach through various aspects such as strategic partners, acquisition efficiency and increasing customer lifetime value (CLTV).

In 2022, iSeller expanded to 30 Indonesian cities and its services are currently being used in over 100,000 companies, including businesses such as SOGO, OMNILUXE, Jiwa Group, GK Hebat Group, Agung Sedayu Group, Damn! I love Indonesia, Sinarmas, IT Gallery, Es Teler 77, HopHop, Lemonilo, Peripera and more.

 iSeller has also seen over an increase of over four times in merchant acquisitions along with revenue in the past two years. Additionally, it's gross transition volume (GTV) grew exponentially by five times to more than US$600 million. According to iSeller, there was also almost a fifteen-fold increase in the utilisation of marketplace integration features in its system, as well as a four time increase in its online store channel adoption. 

iSeller has experienced remarkable growth over the past few years, driven by an immense demand by micro, small, and medium enterprises (MSME) and online businesses for omnichannel solutions such as stock management, marketing, payments and accounting—improving operations efficiency and facilitating business growth, according to iSeller founder and CEO, Jimmy Petrus. “We are grateful for the support of our new and existing investors and look forward to building new products and services to help drive the digital transformation of Indonesia’s economy.” 

As part of the series, iSeller also finished its acquisition of a PJSP-licensed payment gateway, YUKK.

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