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Indonesian B2B marketplace eyes $50m series D raise

Briefing
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Samreen Ahmad · 1 Sep 2021 · 1 min read

Indonesian B2B marketplace eyes $50m series D raise

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“Shaken by the severe headwinds of the Covid-19 pandemic, Indonesian B2B (business-to-business) marketplace Ralali is now looking to raise US$50 million in a series D round to shore up its business,” according to a DealStreetAsia report.

Details:

The Indonesia-based firm, which connects buyers to suppliers and wholesalers, is in talks with potential investors for the fundraise and is looking to close the deal by year-end, according to its cofounder Joseph Aditya.
The startup is eyeing to reach profitability before going public.

Dive deeper:

In 2019, the startup had last raised US$13 million in its series C funding round led by Zigexn founder Jo Hirao and Singapore venture capital firms Arbor Ventures and TNB Aura.
Ralali, which started out in 2013 as an online B2B marketplace for maintenance, repair, and operations items, has moved into several adjacent areas such as office, food, and automotive supplies, as well as building materials.

Editing by Collin Furtado and Arpit Nayak

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