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Aditya Hadi Pratama · · 1 min readIndonesian furniture marketplace secures $15m, plans for IPO in 2023
Dekoruma, an Indonesia-based online furniture marketplace, announced that it has raised US$15 million in its latest funding round.
More funding details
- Existing investor: OCBC NISP Ventura, Foundamental, and Global Digital Niaga, which owns Indonesian ecommerce firm Blibli
- Other investors: South Korea-based KTB Network and Nexter Ventures, the investment arm of SCG Cement-Building Materials
- Stage: Series C1
More company updates
- Dekoruma will use the fresh funds to expand its online-to-offline (O2O) experience center concept beyond Jakarta. It also wants to develop more products and services.
- The firm said that its revenue has tripled over the last 18 months. In the same period, it has turned positive at the contribution margin CM3 level (revenue minus variable costs, such as logistics, payment, and marketing). It also expects to become EBITDA (earnings before interest, tax, depreciation, and amortization) positive by the end of 2022.
- Dimas Harry Priawan, the company’s chief executive said in a statement that it will also look at a public listing around the end of 2023.
- Dekoruma said it currently serves more than a million customers, and has more than 5,000 merchants, interior designers, contractors, and property developers on its platform.
- Almost all Tier 1 and Tier 2 property developers in Indonesia have partnered with Dekoruma, the company claims.
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 Arpit Nayak
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