Indotrading acquired funds of US$1.5M in early 2015 from a group of investors led by OPT SEA. Golden Gate Ventures, GMO Venture Partners, Convergence Ventures, Aucfan, and the company’s existing investors Rebright Partners were among the names that took part in their latest funding round.
Having a mission to build the leading B2B business directory to empower business owners across Indonesia with more opportunities, Indotrading currently has congregated 12.000 Indonesian companies; most of these are dominated by SMEs. Indotrading is optimistic of their growth potential, basing their optimism on the statistics showing that there are no less than 22 million registered SMEs. Founder and CEO Handy Chang claimed that there are huge numbers of untapped opportunities in Indonesia that could make use of his company’s services to boost their online presence on the Internet.
After sealing their newly acquired funds, Indotrading will utilize its new capital to improve big data management and mobile access technology in order to cope up with potential demands. This year, the company’s target is to double its traffic and number of registered companies.
Chang remarked, “We are really glad to receive the funding from OPT and other investors in this round so that we could build a mutual partnership, to let us learn. We have now convinced investors that come from three different countries: Japan, Indonesia, and Singapore. Each and every of them has its own business asset and skills to survive in each own region. I believe that this will help (Indotrading) to build a more solid business.”
Disclosure: Indotrading is a portfolio company of Convergence Ventures
Attributed to: Amir Karimuddin
Full Article Link: https://en.dailysocial.net/post/after-sealing-series-a-funding-indotrading-will-focus-on-tech-development