HappyFresh resumes services in Indonesia, ceases ops in Malaysia and Thailand

Update (September 22, 7:35 p.m. SGT): This article has been updated with details on the closure of HappyFresh operations in Malaysia and Thailand.

After pausing its operations and hiring restructuring firm Alvarez & Marsal Holdings due to financial troubles, e-grocery firm HappyFresh has resumed services in Indonesia. However, the company decided to cease operations in Malaysia and Thailand.

A HappyFresh rider delivering goods / Photo credit: HappyFresh

The e-grocer said it has also received a “recent injection of fresh funds” to support operations in Indonesia – its only profitable market among the three it operates in. The firm’s tech division in the country will be led by co-founder and CTO Fajar Budiprasetyo.

The decision to exit Malaysia and Thailand was taken to “ensure HappyFresh’s market-leading position in Indonesia is maintained as a key growth opportunity for the overall company,” the Jakarta-headquartered firm said in a statement.

Additionally, the firm has reinstated CEO Guillem Segarra, CFO Frederic Verin, and COO Christoph Krauss to lead the company. A new board of directors is also being formed by Segarra and US-based risk consultancy Kroll, following the resignation of Kai–Kevin Gotthard Kux, Lee Jung An, and David Keller last week.

Venture debt funds Genesis, Mars, and Innoven will collaborate with HappyFresh to help the e-grocer reach profitability by the end of this year. 

HappyFresh was founded in 2014 by Kai Kux, Konstantin Lange, Markus Bihler, Benjamin Koellmann, Fajar Budiprasetyo, and Tim Marbach.

The firm has faced various issues this year. In August, the firm put the salaries of several employees on hold and cut all contractor roles, citing “financial issues.” Poor global macroeconomic conditions also drove HappyFresh’s management to freeze hiring and cut costs. These problems come after the firm made a gross loss of US$4.3 million in 2021.

See also: HappyFresh in limbo with delayed salaries and ‘inactive’ top execs