Social commerce firm RateS raises $6m from Vertex, Insignia, others

Photo: RateS.

Indonesian social commerce firm RateS has secured $6 million in fresh funding in a Series A+ round led by existing backer Vertex Ventures Southeast Asia & India. It bagged $4.5 million in equity funding and another $1.5 million in venture debt from Genesis Alternative Ventures.

According to the company’s filings with the Accounting and Corporate Regulatory Authority (ACRA), the startup raised $3 million from Vertex Ventures, $500,000 from existing investor Insignia Ventures Partners, and $1 million from new investor Beacon Venture Capital, the corporate venture capital arm of Thai Kasikornbank.  

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