Aditya Hadi Pratama · · 2 min readSoftBank backs Indonesian social commerce firm’s $70m round
Super, an Indonesia-based social commerce firm, has raised US$70 million in a series C round led by NEA, with participation from SoftBank Ventures Asia, DST Global Partners, B Capital, and Insignia Ventures Partners.
With this latest infusion, Super has raised US$106 million so far, making it the most-funded social commerce startup in Indonesia.
The Super team / Photo credit: Super
Super became the first Indonesian consumer startup to join a Y Combinator cohort in 2018, the same year the startup was established. Since then, Super has built a network of agents that directly sell products from manufacturers to customers within their communities. The company then leverages the services of hyperlocal logistics platforms to deliver goods to its agents.
Super operates in 30 markets across East Java and South Sulawesi and focuses on second- and third-tier cities, which have a gross domestic product per capita lower than US$5,000.
See also: These startups could unlock ecommerce’s true potential in Indonesia
Founded by Steven Wongsoredjo, Super plans to expand its operations to Kalimantan, Bali, West Nusa Tenggara, East Nusa Tenggara, Maluku, and Papua over the next few years. It also aims to expand its engineering team, build more private-label brands, and launch cosmetic products.
Other investors in this round include:
- Amasia
- TNB Aura
- Goldhouse
- Bain Capital’s chairman Stephen Pagliuca
- Xendit’s chief executive Moses Lo
Editing by Miguel Cordon and Joy Tirkey
(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.
