1. Startups

iSeller Announces Series A+ Funding Led by Mandiri Capital Indonesia

Establish yourself as an omni-channel based point of sales

iSeller as a developer startup point of sale based omni-channel, today (29/9) announced the acquisition of extended funding in series A+. The strategic round was led by Mandiri Capital Indonesia with the participation of several investors whose details were not mentioned.

The fresh funds will be used to facilitate domestic expansion plans and accelerate acquisitions merchant. Product development and innovation will also be a priority, in particular to increase the capability of inclusive financial services on the platform.

Established since 2017, iSeller provides digital cashier applications, shops online, and an integrated payment aggregator. The goal is to combine all aspects of the business offline to online in one central dashboard. This concept has become value proposition them compared to other POS platforms.

In his remarks, iSeller Founder & CEO Jimmy Petrus said, "By combining offline sales channel and online in one platform, all aspects of the business can be centralized holistically starting from transactions, inventory, customers to bookkeeping; so that business management and development becomes easier, more effective and efficient."

based solutions omni-channel this moment it's quite relevant. Research entitled “2020 Ecommerce Fulfillment Trends Report” stated that 86% of the respondents, which are e-commerce merchants, sells its wares on more than one channel. Not a few also sell through social media. In the future, 69% merchant plans to continue to increase sales channels online.

Apart from iSeller, in Indonesia so far there have been several startups that are trying to peddle similar solutions, two of them Clodeo and Jubelio.

iSeller business growth

With the concept of SaaS, users can subscribe to their services according to the scale of their business. iSeller received initial funding at the end of 2018. Jimmy claims, his business managed to achieve growth of up to 300% yoy from the number of acquisitions merchant or revenue annual. They target various types of businesses, from retail, F&B, lifestyle, to services.

Investment by MCI will also open opportunities for strategic cooperation between Bank Mandiri and iSeller, including related to product and service integration to facilitate 200 thousand merchant who have joined the Mandiri network throughout Indonesia.

"We are very happy to join iSeller in this funding, of course we see value proposition from iSeller that can synergize with Mandiri's vision, strategy, and digital financial initiatives in the future. In addition to financial support, we believe that strategic collaboration with the merchant ecosystem and Mandiri business group can support iSeller's maximum growth to achieve profitability," said CEO of Mandiri Capital Indonesia, Eddi Danusaputro.

In the midst of the pandemic, the iSeller business is said to continue to grow. One of the triggering factors is the increasing need for businesses to go online. At present the platform has also been integrated with popular payment systems such as Gopay and Ovo; also an integrated delivery system with JNE, GoSend, up to GrabExpress.

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"Since the start of the PSBB in March, we have received a 3x increase in demand, especially for necessities online channel, including retail online store and some of our latest innovations such as F&B online ordering and eMenu for contactless dining, said iSeller CCO Kevin Venturra.

Menurut latest research report which is conducted DSResearch together with Mandiri Capital Indonesia, there are three main problems that are often faced by SMEs in Indonesia, namely those related to Financial, Operational, and Expansion. SaaS service models such as those released by iSeller have proven to contribute to business improvement, resolving these issues agilely.

Indonesian Startup SaaS Services for Business

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