Pockets IDR 115 Billion Series A Funding, Evermos Wants to Build a Muslim Digital Economy Ecosystem

The increasing interest of the Indonesian people to buy halal products is one of the reasons why platforms like Evermos are present. The startup, which was founded in 2018 in Bandung, connects brands with consumers through the program reseller. The company claims to focus on all Muslim, halal and sharia-compliant products.

"Evermos tries to bridge the gap between local and national Muslim brands with reseller-reseller who will sell their products to consumers. Reseller can sell the available products to friends, neighbors or family directly or via WhatsApp or social media," said CEO and Co-Founder Evermos Iqbal Muslimin to DailySocial.

Based on Thomson Reuters data, the market for halal and sharia products is growing very rapidly reaching $2 billion in 2016 and is predicted to increase to $3,8 billion by 2022. Indonesia, as the country with the largest Muslim population in the world, has a big role in the growth Islamic economy in Indonesia and Evermos has a vision to become the main driver of the Muslim economy in Indonesia.

"As a country with the largest Muslim population, the development of an Islamic economy in Indonesia has a positive impact on the country's economy in general and in improving people's lives. Evermos not only wants to be a platform for collaboration between brand owners and reseller, but also become a supporter for both of them in doing business according to sharia," said Iqbal.

Reseller Those who want to join will be charged a registration fee of IDR 300 thousand. For every sale Evermos will take a commission. Currently the Evermos network is available throughout Indonesia and the application is available on Google Play. Amount reseller itself is said to reach 20 thousand.

"We hope that in the future all reseller can focus on sales. Evermos also brings technology, product stock to delivery. For all products sold, reseller can get an average commission of 20%," said Iqbal.

Evermos plan after funding

After securing Series A funding of $8,25 million (Rp 115 billion) from Jungle Ventures, Shunwei Capital, and Alpha JWC Ventures, there are several targets that the company wants to achieve, including building a Muslim digital economy ecosystem and engaging more industry players. Evermos also has a target to acquire more reseller.

In the future, the company has plans to explore potential in other segments, including in social matters, ZISWAF, halal travel, and Islamic fintech.

“We are very enthusiastic to partner with the founding team of Evermos because they are very familiar with the large Islamic economy in Indonesia with a clear vision and support it with technology. They are serious about building an ecosystem to help Indonesians earn extra income, helping their families regardless of their employment and education status. They are also the founding team who have created several digital startups together and have a lot of experience to be able to quickly build and grow their startups,” said Principal Jungle Ventures Yash Sankrityayan.