Existing investors Stellar Kapital and Central Capital Ventura also took part in the round, the company announced in a statement.
Prior to this round, Pomona raised financing from Stellar Kapital, Pegasus Capital, Ever.Haus and Central Capital Ventura, among others.
Launched in 2016, Pomona began as an O2O marketing solution using gamification to drive customers to offline retail and increase transactions. It pivoted to a focus on the fast-moving consumer goods sector in early 2018, when it also announced the raising of its Series A funding round.
The company did not disclose the investors in that round but confirmed that it had previously raised financing from Stellar Kapital, Pegasus Capital, Ever.Haus and Central Capital Ventura.
Today, Pomona describes itself as omni-channel marketing and sales solutions provider that leverages consumer cashback options to facilitate brand-consumer engagement and promote sales conversion, while working directly with FMCG companies to help them tap into the Indonesian market—where private consumption makes up over 57% of the entire country’s GDP.
The company currently partners with over 50 global and local brands including Unilever, Japfa, ABC President, Sosro, Frisian Flag and Sungai Budi.
With this round of financing, Pomona says it plans to develop and release new products and services to better address the needs of CPG and FMCG companies operating in Indonesia, while also hiring new staff to grow its business.
In the future, Pomona plans to develop and introduce new analytical products and services to help brands better engage with consumers and measure outreach effectiveness in Indonesia.
“As a major driver for private consumption in Southeast Asia, Indonesia is an increasingly important market for global brands. Understanding the behavioral traits of local consumers is essential for brands entering and operating in this dynamic market as consumers become more educated and preferential in their spending options,” said Vynn Capital founding partner Victor Chua.
Kuala Lumpur-based Vynn Capital identifies food and FMCG as one of its key target industries. The firm, which was founded by former Gobi Partners vice president Chua, recently secured an undisclosed sum from government-linked Malaysia Venture Capital Management Bhd (MAVCAP) for its debut fund, for which is targeting a corpus of $40 million.