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.