B2B Commerce Platform Plan "Eezee" Expansion in Indonesia
Just pocketed a series of 111,5 billion Rupiah funding led by ACTIVE Fund
B2B trade for MRO (Maintenance, Repair & Operations) products have the potential to grow globally. In Asia alone the growth could increase to $616 billion. seen from the growth potential of 12% annually. Seeing the magnitude of the opportunity provides inspiration for the B2B platform trade from Singapore "Eezee" to then expand in other countries in Southeast Asia, one of which is Indonesia.
This expansion plan was launched by Eezee after completing the series A fundraising worth $7,5 million or the equivalent of 111,5 billion Rupiah. This funding is led by the Ayala Corporate Technology Innovation Venture Fund (ACTIVE Fund). A number of venture capitalists were also involved, including Insignia Ventures, Wavemaker Partners, January Capital, HH Investments, Orange Venture Fund, and several angel investors.
In addition to expanding, Eezee will also use this fresh fund to increase the number of teams, expand market share and develop new products and features for the platform procurement their B2B.
"On average our customers see an acceleration in their procurement process of around 90%. Eezee places its position at the center of all procurement transactions, creating win-win solution for all parties, including customers, suppliers and ERP systems,” said Eezee Founder and CEO Logan Tan.
Since launching in 2018, the company has sold more than 130.000 items in more than 600 categories from nearly 2.000 suppliers. Manage more than 400 corporate customer accounts, including companies such as ExxonMobil, Shell, Zuellig Pharma and Resorts World Sentosa. In 2021, the company has achieved a 5x increase in Gross Merchandise Value (GMV) from the previous year.
According to Kickstart Ventures President Minette Navarrete, the digitization of procurement has increased in recent years, due to significant cost savings and simplification of processes that were previously manual and inefficient. Digitization has not only resulted in greater efficiencies, it has enabled buyers and sellers to analyze data and generate insight attractive for more competitive procurement practices and better buyer and supplier transactions.
B2B Procurement Growth
From the beginning, Eezee was introduced to facilitate the process of purchasing orders, invoices, and shipping orders in the company. In particular, the Eezee digital procurement platform allows businesses to search and shop online for a wide range of products, from office stationery to safety equipment and industrial supplies. By streamlining procurement processes, businesses can save money and time.
Eezee has also been integrated with Enterprise Resource Planning (ERP) business systems such as Oracle and SAP. The goal is to ensure the procurement process runs smoothly and in accordance with business operations. Furthermore, suppliers who do to the Eezee platform, can get access to new subscribers.
The business strategy that will be the focus of Eazee next is to expand to countries such as Malaysia, the Philippines and Indonesia. They also have plans to double the number of teams.
"We are currently Singapore's number one procurement platform and aim to expand our services in other Southeast Asian countries, with a particular focus on Indonesia, Malaysia and the Philippines over the next year," said Logan.
Noted in recent years, a number of startups in Indonesia start glancing e-procurement as a promising business vertical. E-procurement services are considered feasible because the B2B business model is easily scalable.
To facilitate its penetration in the market, this startup combines the concept of veterans in the digital industry, namely e-commerce/marketplaces with B2B services. Globally, this kind of service has won success from big players, such as Amazon Business and Alibaba Business. A number of Indonesian startups entering the B2B marketplace business include Mbiz, Bizzy, Bhinneka, Ralali, Bukalapak, and ProcurA.
Meanwhile, Bhinneka and Bukalapak from the start it was a B2C and C2C marketplace that started to develop new verticals to B2B. Unlike the others, ProcurA does not have a marketplace and focuses on developing e-procurement solutions for companies.
The B2B marketplace business is considered to be the right concept to solve various old problems that occur in corporations, namely low efficiency and transparency.