Indonesian brand aggregator Hypefast raises $19.5m in Series A round

Photo by Hannah Morgan on Unsplash

Indonesian brand aggregator Hypefast has raised $19.5 million in a Series A funding round backed by Monk’s Hill Ventures, Jungle Ventures, Strive, Arkblu Capital, and Amand Ventures.

The company will use the funding to expand its team and support brand growth as it doubles down on a regional expansion plan, Hypefast founder and CEO Achmad Alkatiri told DealStreetAsia.

The company said it has grown its portfolio to more than 25 brands, claiming to be Southeast Asia’s largest house of e-commerce brands.

“We think the explosion of e-commerce or digital native brands in Southeast Asia right now is just the beginning,” Alkatiri said.

“We will see more in the near future, especially stimulated by higher e-commerce penetration here and easier access to supply and manufacturing,” he said.

DealStreetAsia had earlier reported based on a regulatory filing that Hypefast managed to raise $13.99 million in funding in July, led by Singapore-based venture capital firm Monk’s Hill Ventures. According to estimates by DealStreetAsia – DATA VANTAGE based on ACRA filing, the company’s valuation has reached $103.69 million.

Hypefast—founded by a former Lazada and Shopee marketing executive Achmad Alkatiri in 2020—acquires and grows brands in the region, bringing capital and expertise to scale it up.

Hypefast acquires a majority stake in digital native fashion, beauty, health, and lifestyle brands across Indonesia, Singapore, Malaysia, and Thailand. The company has generated at least $35,000 in monthly revenue.

The company can provide capital investment up to $10 million a brand, per information on its website.

Hypefast’s competitors include Rainforest and Una Brands who also acquire e-commerce brands that sell products on Amazon, Lazada, and Shopee. Last week, Singapore-based Una Brands announced raising $15 million in a Series A funding round co-led by White Star Capital and Alpha JWC Ventures

Open Labs, another Indonesian brand aggregator, recently launched a $100 million fund aimed at backing local brands.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.