Indonesia’s retail tech startup Warung Pintar acquires Bizzy Digital for $45m

From left to right: Andrew Mawikere, CEO of Bizzy Digital, Willson Cuaca, Co-Founder and Managing Partner of East Ventures, Brian Wong, Former VP of Alibaba Group, Batara Eto, Co-Founder of East Ventures, Agung Bezharie, Founder and CEO of Warung Pintar at 2018.11.11 Gala Night, Alibaba eFounders Program

Indonesia’s micro-retail tech startup Warung Pintar on Wednesday announced the acquisition of supply chain platform Bizzy Digital for $45 million.

The deal brings together Warung Pintar’s front-end retail digitalisation capabilities and Bizzy’s supply chain strengths in FMCG distribution. 

“Having Bizzy Digital as part of the bigger Warung Pintar ecosystem will enable us to guarantee product reliability, availability, and fair pricing by working hand-in-hand with the brands’ distributors,” Warung Pintar cofounder and CEO Agung Bezharie said, on the synergy benefits of the deal.

The deal combines two entities that work with 600 brands and serve 230,000 retailers in 65 cities across Indonesia. Despite the pandemic challenge in 2020, the East Ventures and OVO-backed Warung Pintar claims to have increased the number warungs (retail kiosks) under its fold to 60,000 in November 2020. The firm plans to acquire 300,000 warungs in Q1 2021.

“As Bizzy Digital becomes part of Warung Pintar, there will be no other player as integrated up and down the supply chain. This combination will enable us to serve brands and distributors with unprecedented value-added, data-driven strategy at scale,” Bizzy Digital CEO Andrew Mawikere said in a press statement.

“As a common shareholder in both companies, we find strong synergy and efficiency by combining the two companies. Warung Pintar comes from a demand-side platform and Bizzy Digital comes from a supply-side platform. Combined they will be able to serve both consumers, retailers, and brands in the most effective way, it is really 1+1=3,” East Ventures co-founder Willson Cuaca said.

Founded in 2017, Warung Pintar has raised a total of $35.5 million in funding. Its investors include East Ventures, OVO, SMDV, Vertex Ventures, Pavilion Capital, Line Ventures, Digital Garage, Agaeti, Triputra, and Jerry Ng.

Warung Pintar had earlier in 2019 acquired another East Ventures portfolio firm Limakilo, a platform that simplifies the food supply chain by connecting farmers to food stalls and vendors.

In October 2020, Warung Pintar partnered with local accounting platform BukuWarung to develop digital solutions for accommodating the specific needs of MSMEs, such as digital bookkeeping and stock fulfillment facilities.

Meanwhile, backed by Indonesian conglomerate Sinarmas Group, Bizzy transformed itself from an e-procurement marketplace to an FMCG supply chain platform. Bizzy is said to have raised a total of $12 million in its funding rounds from SMDV, East Ventures,  Ardent Capital, Maloekoe Ventures, among others.

 

Singapore Reporter/s

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

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  • 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. 
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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.