How a social commerce firm grew revenue by 220% in a year

It’s a turbulent time for startups in the e-grocery space. Major players HappyFresh and Sayurbox have exited markets and shut down warehouses, respectively, as they streamline operations to stay afloat, putting the viability of pure-play grocery firms in question.

WeBuy, a community group-buying platform, appears to be bucking the trend. It’s evolved beyond being a B2C service for groceries to operate a B2B imports business in Indonesia and offer a travel-ticketing feature in Singapore. This pivot, its CEO says, has helped the firm become EBITDA positive as of the third quarter of last year.

In my latest premium story, I dive into how the firm grew its revenue by 220% between 2021 and 2022. The firm is now seeking to raise up to US$20 million in a series B round as it scales it operations in Indonesia and launch financial services, starting with mortgages.