Indonesia B2B marketplace Ralali closes first tranche of series D round

Ralali, an Indonesia-based B2B marketplace, has raised an undisclosed amount as part of its series D round led by Bee Accelerate and SBI Group, with participation from ICMG Partners, Beenos Asia, and Arbor Venture.

Ralali’s CEO Joseph Aditya (right) and CTO Irwan Suryady / Photo credit: Ralali

According to the company, the deal marks the first tranche of the round, and the firm is still open to opportunities for more strategic partners to join, including companies from the banking, logistics, point-of-sales, and API industries.

Data from VentureCap Insights showed that Ralali raised around US$11 million last month, boosting its valuation to more than US$168 million.

Founded by Joseph Aditya in 2013, Ralali connects suppliers with SMEs through its marketplace. Last year, the company said it had more than 1.5 million business owners on its platform.

Since its launch, Ralali has expanded its business to include healthcare, private label, and social commerce brands, aiming to reach 6 million end customers by the end of this year. It also recently launched an agent-based network called Ralali Agent and acquired East Ventures-backed healthy noodle brand Fitmee.

In a statement, the company said total transactions on its platform grew almost 3x compared to the same period last year.

Ralali plans to use the fresh funding to empower business owners and provide more services for them.

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