Behind the merger that birthed Quipster

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When I was younger, I religiously watched Dragon Ball Z, the Japanese anime. There’s one thing about the show that I like to think of whenever I come across a merger of companies: It’s called “fusion” and it literally refers to two characters merging their bodies to defeat a more powerful enemy. The message was clear even to a young boy: The whole is greater than the sum of its parts.

That also applies to two Indonesia-based startups that recently merged to create Quipster. In today’s story, we take a look at how this merger came about and what it means for the two firms.

Today we look at:

• What a merger holds for Indonesia-based Webtrace and TraktorHub
• What a Shopify-like Vietnamese startup plans to do with its new capital
• Other newsy highlights such as AirAsia’s new financial marketplace in Indonesia and a US$200 million investment in Indonesian e-wallet Dana.

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Finding friends

Image credit: Timmy Loen

Webtrace and TraktorHub have merged to form a new entity, Quipster. The move is not surprising one as the synergy between both firms is apparent: Webtrace provides an IoT solution to help companies monitor their vehicle assets, while TraktorHub’s platform helps companies rent or buy heavy equipment.

• Sorting out who’s who: While both companies now operate under the Quipster banner, they will both continue serving their respective customers with Quipster acting as a holding entity. Webtrace’s co-founders, Erwin Subroto and Denny Tijioe, will serve as CEO and CFO of Quipster, respectively, while TraktorHub’s co-founder David Hartono will be COO of the merged entity.

• Mutual friends: According to Subroto, the two companies first met via their common investor, Prasetia Dwidharma. What was initially meant to be a discussion for collaboration eventually snowballed once both firms realized that some of their founders knew each other. That was when they decided to pull the trigger and turn a partnership into a strategic merger.

• Fuel in the tank: Following the merger, Quipster intends to raise a pre-series A round later this year. Using those funds, the company plans to further its expansion to 12 cities in Indonesia. It’s also looking to build new products and forge partnerships with financial firms to offer loans or insurance services.

Read more: Exclusive: Two heavy equipment startups backed by Indonesian super angel merge

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