Indonesian social commerce startup Super completes $28 million Series B funding

Indonesia's local social commerce company Super announced on the 29th that it received an oversubscription of US$28 million in its Series B financing .

It is reported that Super 's Series B financing was led by SoftBank Ventures Asia , with Amasia and Insignia Ventures Partners also participating in this round of financing.

Super’s founding team  

The funding brings Super’s total raised to date to over $36 million, which the company says is the largest round ever raised by an Indonesian social commerce startup .

It is understood that Super was established in 2018 and mainly serves second- and third-tier cities and rural areas in Indonesia, providing fast-moving consumer goods to local consumers. The company currently operates in 17 cities in East Java and has thousands of agents or distributors.

Super said it will use the new funds to double its presence in the region and expand into other provinces in Indonesia this year. At the same time, it will expand its product categories beyond fast-moving consumer goods ( FMCG) and grow its recently launched white-label brand SuperEats.

Steven Wongsoredjo , CEO and co-founder of Super , said: Super's ultimate goal is to " build the Walmart Group Indonesia without retail stores and use social commerce capabilities to build a sustainable model ." Similar to China's Pinduoduo's community group buying development model.

However, it should be noted that Super's goal is not to become the Indonesian version of Pinduoduo . The platform operation mode of Super is to provide goods to community agents, who are responsible for collecting orders, distributing products, collecting payments, etc. Super 's mass base mainly relies on the accumulation of offline community leaders' personal connections.

Super has also set up a logistics network with SuperCenter distribution pick-up points and warehouses. Most of Super's products are provided by regional fast-moving consumer goods brands, and group orders are delivered to agents, who in turn make the last mile delivery to buyers.

This model makes Super 's supply chain more efficient, enabling it to fulfill orders within 24 hours without relying on third-party logistics providers, thereby keeping prices low.

Besides Super , other social commerce companies in Indonesia include KitaBeli, ChiliBeli and Woobiz.

However, unlike them, Super mainly serves small cities and rural areas because it does not focus on Jakarta or Greater Jakarta, and its headquarters and core operations team are outside the big cities. For Super , its goal is to capture the remaining 90% of Indonesia's market that is still unpenetrated .

Indonesia

Social Commerce

Financing