Southeast Asia based ecommerce platform for women MoxyBilna today announced that it had secured $15 million funding together with a strategic rebranding under the name ‘Orami’.
“It is great to have such a diverse combination of investors – with SMDV’s local Indonesian strength, Ardent Capital’s regional breadth, Gobi Partners’ know-how in social commerce and women economics, and the addition of global powerhouses, Eduardo Saverin and Velos Partners,” Jérémy Fichet, CEO of Orami, said.
The raised capital will be directed towards enriching the company’s product selection for women, focusing on enhancing its social commerce components, optimizing its mobile and technology strategy under a unified platform for the region, and extending the end-to-end user experience.
It will also look for implementing expansion plans into a new market in Southeast Asia, apart from Indonesia and Thailand.
“Southeast Asia is currently missing a key player who understands how to properly market towards the evolving and underserved female consumer. In China, we have witnessed similar growth in social commerce and businesses targeting female demographic groups, and we believe that Orami has the right combination of management and vision to realize this model in Southeast Asia,” thinks Kay-Mok Ku, Partner at Gobi Partners.
Upon the merger, Orami has based its headquarters in Jakarta, consolidated close to 500 employees as a group. Orami site offers every category to cater to the modern female lifestyle such as beauty, gadgets & electronics, mom & baby, fashion accessories, health & sports, home appliances & décor, pets and groceries. Around 75 per cent of Orami consumers are women and it claims about 3 million visits a month.
“The Orami team is on top of its game with a laser focus on the intersection of social commerce, content and women. Between Thailand and Indonesia, where more than 5 million babies are born a year, women not only serve as the gateway to the home but are the key drivers of a rapidly growing economy and future generation,” Eduardo Saverin, who was also Facebook’s first investor, added.