Social Commerce Platform “Super” Pockets Series B Funding 405 Billion Rupiah Led by Softbank Ventures Asia

Platform social commerce Super announced a series B funding round of $28 million (over 405 billion Rupiah) led by Softbank Ventures Asia. Several investors participated in this round again, including Amasia, Insignia Ventures Partners, Y Combinator Continuity Fund, and Stephen Pagliuca (Co-Chairman of Bain Capital and Owner of the Boston Celtics). New investors in this series are Partners of DST Global and TNB Aura.

To date, Super has pocketed more than $36 million in funding (over IDR 502 billion), which is claimed to be the largest for the company social commerce in Indonesia. The previous series A round, which was completed by the company at the beginning of last year, managed to pocket $7 million (more than Rp101 billion) led by Amasia. Followed by other investors, namely Y Combinator, B Capital, Insignia Ventures Partners, Alpha JWC Ventures, Indonesia FMCG Group UNIFAM, Mari Elka Pangestu, and Arrive, part of Roc Nation founded by Jay-Z.

The fresh funds will be used to increase the company's business activities in East Java, which is its headquarters, and expand to other provinces in eastern Indonesia this year. Not only that, Super's business which focuses on FMCG products will expand its product coverage, as well as develop white label brands, named SuperEats.

In an official statement, Super Co-Founder & CEO Steven Wongsoredjo said: as a consumer technology company, Super's mission is to provide equal economic access for all people. Currently, the price of essential goods in regions and remote areas of Indonesia can be up to 200% higher than the price of the same goods in Jakarta. However, the purchasing power of people in remote areas is not as great as that in the capital city area.

“I think it's unfair when a mother in a remote area can only afford one glass of milk, whereas with the same amount of money she can buy two or three glasses of milk in Jakarta. We want to provide a fair price for people everywhere, that's why we built Super," explained Steven, Thursday (29/4).

A number of representatives from investors also gave their statements. Softbank Ventures Asia partner Cindy Jim said the trend social commerce on the rise globally, they are proud of the Super team's commitment to areas of Indonesia that are under-appreciated.

“We believe that hyperlocal team like they [Super] will be able to navigate and build the platform in Indonesia. Super is at the forefront to catch the momentum social commerce in remote areas in Indonesia,” said Cindy.

Amasia Co-Founder & Managing Partner John Kim added, “There are more than XNUMX families living outside Jakarta and the majority of trading is still done online. offline. This great opportunity will present great competition, but Steven is a leader with a solid mission. We will continue to support Super on the way forward."

Super currently operates in 17 cities in East Java. The company leverages the logistics platform hyperlocal to distribute consumer goods to agents in less than 24 hours after ordering. Super works with thousands of agents to distribute thousands to millions of necessities every month. Most of these agents are women.

It was explained, by connecting large suppliers to small agents, Super was able to reduce the need for excessive warehouses and fleets in a less effective supply chain. As a result, in this way, as the company expands its reach, Super helps reduce carbon emissions in Indonesia.