Orderfaz Closes Pre-Special Funding Round Led by 1982 Ventures

Startups fintech for social commerceOrderfaz closed the pre-initial funding round in kind financing, led by 1982 Ventures. This initial capital was used to increase the number of teams, product development, and market reach expansion. 

Operating in March 2023, the founding board of Orderfaz consists of Reynaldi Gandawidjaja (CEO), Mohamad Iqbal (Chief Commercial Officer), and Jessica Alvina (Chief Product Officer) who are also former senior executives at Evermos.

Orderfaz's management team previously founded the logistics platform Popaket which Evermos also annexed, as well as the provider dropshipping UKM, Bandros. They founded Orderfaz because they saw the market marketing digital in Indonesia is massive, but the right solution has not yet been met.

Orderfaz develops payment and sales solutions that help businesses and owners brand increase online sales conversions. This solution is designed to optimize sales and operations with lower transaction costs, as well as enable owners brand control their business online.

Co-Founder and CEO of Orderfaz Reynaldi Gandwidjaja said, "social commerce in Indonesia has shown remarkable growth, but hampered by a limited number of sales channels, which are primarily retail and e-commerce. We created Orderfaz as one-stop shop for business social commerce to drive revenue, operations and achieve efficient conversion rates," he said in an official statement.

They assess potency social commerce is still very large with an estimated market value of $90 billion in 2028. According to the report "The Social Commerce Landscape in Indonesia" by Populix, as many as 86% of respondents in Indonesia have shopped on social media where the TikTok Shop (45%) is the most frequently used platform, followed by WhatsApp (21%), Facebook Shop (10%), and Instagram Shop (10%) ). 

Meanwhile, Managing Partner at 1982 Ventures Scott Krivokopich added, "Indonesia as one of the countries with the most digitally connected population has social commerce outstanding. What we're trying to address here is how Orderfaz tries something different in the marketplace. We are passionate about working with the Orderfaz team while building innovative solutions for social commerce in Indonesia."

Sales conversions and omnichannel

In a separate interview with DailySocial.id, CEO of Orderfaz Reynaldi Gandawidjaja revealed, one of the main problems often experienced by perpetrators social commerce in Indonesia is a specific sales conversion.

According to him, there are two ways for social commerce businesses to convert potential buyers into sales, namely through the WhatsApp channel and order form. "We provide both of these solutions to make things easier deal closing from digital market or seller social commerce. So, lead what came in didn't fail to convert," Reynaldi said.

Orderfaz presents the Smart WhatsApp Keyboard feature for sellers to complete buyer orders easily, which is adapted to the unique characteristics of the Indonesian market where online transactions are completed via WhatsApp. This feature includes order details, invoice, and links product checkout for buyers on WhatsApp.

It claims that the sales conversion rate of its users has been seen with varying percentages, from 30% to 200%. Currently, 600 sellers have joined Orderfaz in the first two months after launch. The target, the number of users to double in the next few months.

Furthermore, Orderfaz plans to develop an omnichannel marketplace to manage orders on Orderfaz and third-party e-commerce partners, such as Shopee, Tokopedia and TikTok. Orderfaz will also create a customer program loyalty for Reward reliable buyers.

"Not all sellers in e-commerce, such as Tokopedia or Shopee) either social media sellers. However, almost all social commerce sellers is a e-commerce sellers Also. For this reason, we are currently integrating e-commerce, such as TikTok Shop, Shopee, Tokopedia) for management user orders we can be integrated in one place."

Orderfaz seeks to simplify the purchasing process through One-Click Checkout through a browser plug-in where sellers track the buyer's transaction history to avoid the risk of fraud. Orderfaz also provides a networking platform for brand owners to share experiences, tips and tricks on selling as digital marketers or through social media.