Indotrading, a business directory for Indonesian small and medium enterprises, has raised a series A round worth $1.5 million.
Based in Indonesia, Indotrading disclosed that it had successfully raised $1.5 million in Series A funding, in a round led by OPT SEA, the Southeast Asian business arm of OPT Group, a Japanese e-marketing corporation.
Investing in this round alongside OPT SEA are existing investor Rebright Partners.
A mix of Indonesian, Singaporean and Japanese investors have also joined this round, with the addition of Golden Gate Ventures, GMO Venture Partners, Convergence Accel and Aucfan to the list of investors. Capital from IndoTrading’s previous seed round, an undisclosed amount raised from Rebright Partners, was invested into recruiting people for the larger team.
According to Indotrading, a significant number of the 22 million registered Indonesian businesses lack proper websites and suffer from a deficit in lead generation using them. Indotrading addresses this pain point issue by establishing the online presence of small businesses, listing them and promoting their products.
The 45-member team operates in Surabaya, Jakarta and Medan, claiming a monthly visitor count of 1.7 million and with a listing of 12,000 merchants. Indotrading has also reported 400 per cent growth year-on-year (YOY) in the wake of its successful seed round. Capital from this latest round will go towards product development, further expansion of the technology team and expanding into other Indonesian cities.