1. Startups

WholesaleOne Supply Chain Solution Provider Startup Targets Series A Funding Of IDR 142 Billion

Alexander Rusli entered as an angel investor, eyeing two or three institutional lenders in the next round

One of the solution provider startups supply chain, WholesaleOne, is eyeing series A funding of $7 to $10 million or equivalent to 142 billion Rupiah. The company targets about two or three institutional lenders to enter this round. The proceeds of this funding round will be used to increase distribution center inside and outside Java and strengthen cooperation with partners.

Founded in 2019 by Erben Noerman, Jordy Jonatan, and Felix Boenawan, WholesaleOne started its business by offering solutions for distributors who were experiencing problems. cash flow due to late payments from MSME players. This platform was created as a bridge for the suppliers, distributors, and retailer and offer financial benefits through partner banks or p2p loans for productive loans.

At first, the company focused on the FMCG industry because of its background and experience co-founder and acquisition teams in the industry. However, his team continues to explore various other industries such as meat products, shrimp and so on. In approximately 2 years, WholesaleOne has collaborated with 107 principal, 54 distributor, 5900 motorcyclist and has been recorded to have more than 35 thousand o throughout Java.

“In order to continue to do channeling For funding, we have partnered with Banks and also Non-Bank Financial Institutions such as companies . Since 2020 we have partnered with Investree, Batuumbu, KreditPro, and West Java Bank. In 2021, we have collaborated with Danamart, Acceleration, Dompet Kilat, Modalku and Bank Rakyat Indonesia through Mastercard", said Erben.

During the pandemic, the company saw a lot of MSME players, both at the distributor level and at the retailer who are experiencing financial difficulties and even some have closed their businesses. In times like this, WholesaleOne is tested as a solution platform to be able to help MSME players survive and even thrive during the pandemic.

Erben added that so far the development of WholesaleOne can be said to have exceeded the target that has been set so that it is confident to start fund raising series A. From 2021 to early May 2021, the Gross Transaction Value (GTV) has reached 770 billion Rupiah with a very strong growth. since December 2020, which is 152%.

Future goals

WholesaleOne started the funding journey from an introduction by one of the co-founder with Alexander Rusli, Co-founder Digi Asia Bios. He takes on the role of angel investors all at once advisor company to date.

When asked about its focus on targeting institutional financiers, WholesaleOne admitted that as a startup company, it needs support with solid credibility which will later become benchmarking on the valuation and funding of the company.

Regarding future plans, the company is still listening to and processing feedback received from users to then translate it into business needs and the development of WholesaleOne services and platforms.

"The next stage we will focus on development towards automation in terms of user data collection, thus facilitating the onboarding process of Principals, Distributors, Retailers, and Motorists to the WholesaleOne Platform," said Felix.

More Coverage:

From a geographical point of view, currently WholesaleOne has reached all parts of the island of Java, parts of Central and Eastern Indonesia such as Gorontalo, Kupang, Maluku and Ternate. "We plan to soon expand the coverage area to a national scale, as well as deepen the touch to the bottom chain supply chain that is para retailer and motor."

Some startups that also offer similar solutions include Advotics and Ula.

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