Super, the Indonesia-based social commerce group-buying platform, has secured a $28 million Series B in an oversubscribed round led by SoftBank Ventures Asia. The startup plans to use its fresh capital to scale its operations in one of its existing local markets, East Java, and launch in other provinces within the year.

“With the rise of social commerce globally, our team at Softbank Ventures Asia has been tracking the burgeoning sector in Southeast Asia with great interest. We have been impressed by the Super team’s deep knowledge and commitment to Indonesia’s underserved regions, and believe that a truly local team like theirs will be well equipped to navigate and build out a platform in this hyperlocal market,” said SoftBank Ventures Asia Partner Cindy Jin. “Super is at the forefront of capturing the social commerce momentum in rural Indonesia, and we are thrilled to partner with Steven and his team along their journey to scale their platform in the years ahead.”

The company’s Series B follows its oversubscribed $7 million Series A in October 2018. The current round was also participated in by returning investors such as California-based startup accelerator Y Combinator, Singaporean venture capital firm Insignia Ventures Partners, and Amasia. Other investors include Hong Kong-based investment firm DST Global, Singaporean next-gen VC firm TNB AURA, and Stephen Pagliuca, who is Bain Capital Co-Chairman and Co-Owner of Boston Celtics. The company has now raised a total of $36 million.

Since its launch in 2018, the Y Combinator graduate (winter 2018) has created a social commerce platform that caters to cities and towns with a GDP per capita of $5,000 or lower. Currently, Super operates in 17 different cities across East Java, with a network of thousands of resellers, or agents.

The platform offers the Y Combinator-led Superagen, an agent-led commerce group buying that enables community leaders to become retailers within their communities. Through its platform, the startup has been able to utilize technology to build a logistics network with the lowest cost, and facilitate communication for social buying so that agents can utilize social network platforms such as WhatsApp, Facebook, and Instagram to sell various products.

Steven Wongsoredjo, CEO and Co-Founder of Super, expounds on the company’s mission to enable equitable access for all. “The price of goods in second and third-tier cities can be up to 200% higher than prices for the same goods in Jakarta. But purchasing power in these more remote areas is usually a fraction of what it is in our capital city. Coming from a family business that serves the retail industry in these more remote regions, I was aware of this problem from a young age. It seemed so unfair that a mother in rural Indonesia could only buy one cup of milk for one U.S. dollar, while that same dollar could buy you 2 or 3 cups in Jakarta. We wanted to provide fair prices for citizens everywhere, so we set up Super.”

Debeasinta Budiman, Super’s Co-Founder and Product Development Executive also said: “We saw how the explosion of social commerce in China and India allowed for cheaper prices for consumers in those markets. We also find great satisfaction that our agent-based model empowers mostly female micro-entrepreneurs in areas of the country that traditionally offer fewer economic opportunities. The fact that we connect large suppliers to these agents eliminates the need for excess fleets and warehouses in a traditionally bloated supply chain. So as we expand our reach, we also help decrease Indonesia’s carbon emissions. Super’s business model is a win-win for everyone.”

The company plans to use its Series B funding to double down on its presence in East Java and launch in other Indonesian provinces later this year. Currently, the startup mainly offers FMCG products and is looking into expanding its product range. Lastly, the company plans to use the money to further develop its white label brand, SuperEats.

“There are more than 60 million households living outside Jakarta and the overwhelming majority of Indonesia’s commerce is still conducted offline. Such a massive opportunity will welcome significant competition, but Steven is a man on a mission, and we’ve seen nothing but resolve from him and his team. We look forward to supporting Super in what looks to be a very exciting journey ahead,” says Amasia Co-Founder and Managing Partner, John Kim.

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