Indonesian social commerce startup KitaBeli raises US$20m

July 18, 2022

KITABELI, an Indonesian social commerce platform focused on tier 2 and 3 cities, has raised a US$20 million funding round led by Glade Brook Capital Partners, a US-based growth equity investor.

The round was joined by KitaBeli’s existing investors, AC Ventures and Go-Ventures – which is backed by tech giant GoTo Group – as well as venture debt provider InnoVen Capital, which has come in as a new investor.

Launched in March 2020, KitaBeli offers fast-moving consumer goods on its gamified platform, allowing users and partners to get discounts and earn money by leveraging their social networks. It claims to be the largest direct-to-consumer social commerce platform in Indonesia.

Read the complete article on Business Times >

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