Post-Series B Funding from Amand Ventures, Orori Promotes Product Innovation and Integration

Orori announced that it had secured new funding in a series B round for an undisclosed amount. According to Orori's Founder & CEO George Budi Sumantri, the funding was led by Amand Ventures with the support of its affiliates.

This additional capital will be focused on several things. The first is the development of the gold pawnshop business, which was previously delayed this year. Secondly, from the product side, there will be e-gold integration on the Orori platform, and vice versa. Then from the business side, his party will optimize the strategy to achieve greater income after becoming a company official reseller antam gold.

In the interview, we mentioned about CoFTRA regulations related to selling gold products online. Previously, several services were frozen, including the integration of e-mas on Tokopedia for sales. According to George, so far the regulation has had no impact on Orori's business.

Regarding other business targets, he also said that by the end of this year, there will be an Orori update in terms of platforms, especially in applications mobile devices. George shared that the development team is trying to do research and optimize mobile experience for ease of transaction.

e-mas platform the integration will also be expanded later in 2019 to partner platforms. In addition, it also seeks cooperation with offline retail. Until the end of this year there have been at least 70 o partners spread across various regions in Indonesia.

Previous to all secured a series A funding round from 500 Startups, East Ventures, and Spiral Ventures. In the initial funding, Ideosource also invested capital in the jewelry sales platform.