iSeller Raises US$12 Million Series B

  • Aims to be profitable within 3 years by focusing on expanding reach
  • In the last 2 years, had an over fourfold increase in merchant acquisitions, turnover

Indonesia's iSeller raises US$12 million in Series B

iSeller, Indonesia’s merchant solutions platform, today announced the completion of a US$12 million (RM51.4 million) Series B funding round led by Intudo Ventures with participation from KVision (Kasikornbank) as well as existing investors Mandiri Capital Indonesia and Openspace Ventures.

With this round of funding, iSeller plans to release a new version of their flagship products with a focus on improved user experience, faster performance and reliability. Sellers can also expect new payment and marketplace integration.

It aims to achieve profitability within the next three years by focusing on expanding reach through strategic partners, acquisition efficiency and increasing customer lifetime value (CLTV) through more comprehensive and integrated merchant value-added services.

iSeller offers a range of solutions for businesses to digitize sales and operations, including POS, digital payment acceptance, inventory management, instant online stores, marketplace integration and food delivery integration.

Over the past year, iSeller has expanded to cover 30 cities in Indonesia and is used by more than 100,000 companies, including companies such as SOGO, OMNILUXE, Jiwa Group, GK Hebat Group, Agung Sedayu Group, Damn! I love Indonesia, Sinarmas, IT Gallery, Es Teler 77, HopHop, Lemonilo, Peripera and more.

In the past two years, iSeller saw a more than fourfold increase in merchant acquisitions and revenue, while gross transaction volume (GTV) increased fivefold to more than US$600 million.

According to the company, it saw a nearly 15x increase in the use of marketplace integration features in the iSeller ecosystem and a 4x increase in online store channel adoption.

“iSeller has seen remarkable growth over the past few years, driven by huge demand from MSMEs and online businesses for omnichannel solutions from inventory management and marketing, to payments and accounts – improving operational efficiency and facilitating business growth,” said iSellers founder and CEO Jimmy Petrus (picture).

To support growth, iSeller has added more than 100 new employees to its customer experience team over the past 10 months. Currently, iSeller is the only sales platform fully integrated with Indonesia’s four largest marketplaces: Tokopedia, Shopee, Lazada and Blibli.

To better serve merchants, iSeller has established a national partnership with Bank Mandiri Indonesia, becoming the official POS platform for all merchants on Mandiri’s Livin Merchant program, covering over three million businesses.

As part of the financing, iSeller also completed its acquisition of YUKK – a PJSP-licensed payment gateway.

William

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