- Briefing Your roundup of Asian tech and startup news that matter
Aditya Hadi Pratama · · 1 min readIndonesian POS startup cashes in $8.4m new funding
Indonesia-based iSeller, a software-as-a-service startup, announced that it has raised 120 billion rupiah (around US$8.4 million) in its latest funding round.
More funding details
- Lead investors: AppWorks and Openspace Ventures
- Existing investor: Mandiri Capital Indonesia
- Other investor: Indogen Capital
- Stage: Pre-series B
More company updates
- In a statement, the company – whose main product is a point-of-sale system – says that it currently processes more than a million transactions per month across all of its channels.
- ISeller also recorded a 4x growth on both number of merchants and revenue compared to November last year, when it announced its series A round. Today, it counts more than 60,000 merchants as its clients.
-
The company will use the fresh funds to increase its merchant client base by up to 6x by expanding to 50 Indonesian cities.
- The startup recently became an official WhatsApp Business partner in Indonesia, and it has announced that it will roll out offerings in collaboration with Facebook. ISeller is also continuing to strengthen its partnership with Grab.
Currency converted from Indonesian rupiah to US dollar: US$1 = 14,200 rupiah.
For more coverage of the company, head here. You can also click on the link below to view key details about the company as well as its funding history.
Editing by Collin Furtado and Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
