Qlapa, an Indonesian handicrafts marketplace, has shut down. The company published a statement on its website and social media channels to announce the shutdown – the platform itself is no longer accessible.
In the statement, Qlapa alluded to its inability to build a profitable and sustainable business. The Qlapa team did not respond to repeated requests for comment.
Qlapa was founded in 2015 by Fajarai and co-founder Fransiscus Xaverius, who saw a US$20 billion opportunity in the Indonesian handicrafts market. The startup notably raised its seed round from Global Founders Capital, a VC firm founded by the Samwer brothers of Rocket Internet.
Qlapa’s latest funding came in a series A round from March 2017 from India’s Aavishkaar Frontier Funds and Indonesian media company Kapan Lagi Networks.
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
