Indonesia’s SIRCLO merges with e-commerce solutions startup ICUBE

Indonesia-based e-commerce enabler company SIRCLO has agreed to merge with e-commerce solutions startup ICUBE, per an announcement.

Following the merger, which will bring together more than 450 employees, ICUBE will continue to operate as an independent entity integrated with the services offered by SIRCLO.

No financial details were disclosed in the statement.

ICUBE founder and managing director Muliadi Jeo will replace Leontius Adhika Pradhana as SIRCLO’s Chief Technology Officer (CTO). Leontius will take up the role of Chief Product Officer (CPO).

Founded in 2013, SIRCLO provides solutions to help businesses sell online through SIRCLO Store, a SaaS platform that helps create online shop sites for SMEs, and SIRCLO Commerce, which addresses the needs of corporate brands as they enter online distribution channels.

Meanwhile, ICUBE is an agency providing technology and e-commerce solutions for retail, which has launched and managed more than 100 Magento-based sites. It has also launched Swift products to meet the e-commerce and omnichannel needs of medium-sized businesses

The merger will see SIRCLO, which focuses on big brands and MSMEs, and ICUBE, which specializes in medium scale businesses, combine and amplify their strengths to serve brand and business owners.

“We are always open to opportunities to improve our abilities. When we see the potential to merge with ICUBE, we are increasingly confident that we can carry out this mission on a larger and more comprehensive scale through the combined strengths of the two companies,” said SIRCLO CEO Brian Marshal.

Marshal admitted that this merger took place at the right moment when additional resources would help SIRCLO and ICUBE to serve more MSMEs and brands that need fast services in the midst of a pandemic.

For SIRCLO, the merger comes a year after it reportedly raised $5 million in a Series A funding round backed by Skystar Capital, East Ventures, Sinarmas Land and BEENOS Plaza, the investment vehicle of Japan’s BEENOS in Indonesia.

The company previously raised an undisclosed amount in seed funding from East Ventures in 2014.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.