Indonesian online fashion store Saqina, which focuses on clothing for Muslim women, announced today that it has received investment from Jakarta-based investment firm Ideosource. The funding amount was not disclosed. The investment will see Ideosource hold a minority stake in Saqina and a right to put representatives on the board of directors.
Founder Mohammad Rosihan said that besides funding, Ideosource brings valuable experience, knowledge, and a much needed network to help develop the Saqina store. Ideosource director Andi S. Boediman sees that the fashion e-commerce business in Indonesia, particularly the Muslim fashion industry, is a big business. He added that Saqina is being run well and has a lot of potential to grow even bigger, and the new funds will be used to that end.
Ideosource representative Andrias Ekoyuono told TechinAsia this afternoon that what sets Saqina apart from other Muslim fashion sites is that it has a good understanding of its customers and what they want. That understanding is derived from the startup’s experience in the offline world as well.
It should be noted that this is Ideosource’s second investment announced this year. Previously, Ideosource was also among the companies which ploughed funding into Gimmie, a Singapore-based brand loyalty platform.
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