Aditya Hadi Pratama · · 1 min readIndonesian POS startup bags $12m in Intudo-led series B round
iSeller, a point-of-sale (POS) startup based in Indonesia, has raised US$12 million in a series B funding round led by Intudo Ventures, with participation from KVision, Mandiri Capital Indonesia, and Openspace Ventures.
With the deal, iSeller also completed its acquisition of local payment gateway Yukk.
Photo credit: iSeller
Founded by Jimmy Petrus in 2016, iSeller offers various services to help business owners manage sales and operations. They include POS systems, digital payments support, and inventory management, as well as integration with online marketplaces and food delivery platforms.
The company said its platform connects clients with Indonesia’s top four marketplaces: Tokopedia, Shopee, Lazada, and Blibli.
In a statement, iSeller said its gross transaction volume increased fivefold over the past two years and hit US$600 million in 2022. More than 100,000 businesses including prominent F&B and lifestyle brands such as Sogo, Jiwa Group, Es Teler 77, and Lemonilo use the platform.
See also: These are the most active investors in Indonesia’s startups
Using the fresh funds, iSeller plans to release a new version of its platform featuring new payment options and integrations. The startup also aims to achieve profitability in the next three years.
Editing by Miguel Cordon and Eileen C. Ang
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