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.