Indonesia: Lippo group backed Mbiz completes Series A funding

Indonesia-based e-commerce player, Mbiz, has raised a Series A funding round led by Japanese leasing firm Tokyo Century Corporation. The funding round valued the company at $75 million, according to a report by e27.

COO and co-founder Ryn Hermawan said that the company recorded a positive cash flow last year.

The Lippo group-backed company is an e-procurement and e-catalog platform, which provides integrated, web-based, solutions for companies and government institutions. It provides product catalogs from various vendors and industries, ranging from IT products, industrial equipment to groceries.

The company focuses on simplifying the tedious procurement process, that involves face to face meetings, catalogue submission and the bidding process.

Mbiz started six months after the launch of Matahari Mall, Lippo group’s B2C e-commerce platform.

Mbiz is led by co-founders Ryn Hermawan and Andrew Mawikere. With a B2B and B2C platform up and running, some predict the Lippo group may have plans to go the Amazon route in Indonesia, building a strong front and back end as well.

Indonesia’s B2B e-business is a nascent, untapped sector in, with very few players. Ardent Capital-backed Bizzy is the same space and focuses more on office supplies. These companies also complete with traditional brcik-and-mortar vendors like OfficePro, and established e-commerce firms with similar  B2B offerings like Bhinneka and office1Superstore.

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.