Indonesia-based social commerce platform KitaBeli announced on Friday the raising of an undisclosed amount in a Series A extension, participated by Vidit Aatrey and Sanjeev Barnwal, founders of India-based social commerce platform Meesho, Kopi Kenangan Capital, and Turner Novak’s Banana Capital, a US-based consumer-focused venture capital firm.

The extension comes less than six months after the company’s $10 million Series A funding round was announced in March 2021. The additional funding also came after another Indonesia social commerce platform Evermos announced earlier on Wednesday an oversubscribed Series B funding round of over $30 million led by a new investor, UOB Venture Management’s Asia Impact Investment Fund II.

“KitaBeli’s model combines the best of the PinDuoDuo-led group buying network effects as well as the Community Leader ecosystem that has powered high growth companies in China and India. We strongly believe that the hybrid model that they have perfected over a short period of time will prove to be the winner in Indonesia’s unique economy,” Vidit from Meesho said.

Despite COVID-19 lockdown restrictions, KitaBeli’s growth over the past 12 months has been “nothing short of impressive,” the company said.

Since its inception in March 2020, Kitabeli has demonstrated powerful execution as the platform has grown to become the largest consumer-facing social commerce platform in Indonesia.

“We are grateful to have these incredible investors join us in our journey to expedite e-Commerce access throughout Indonesia. Vidit, Sanjeev, Ed, and Turner are visionaries who have built impactful companies across the globe, and we look forward to accelerating KitaBeli’s growth trajectory with them,” said KitaBeli Founder Prateek Chaturvedi.

KitaBeli’s social commerce platform provides Tier 2 to Tier 4 cities with access to eCommerce products and services. Through its mobile app, users and community leaders can share product price information with their social circles, and leverage offline networks to purchase desired items at competitive prices.

KitaBeli’s vision to democratize eCommerce access enables the next generation of internet users to come online, by bridging the trust gap, and creating convenience and value to users.

Today, Indonesia, a core market for eCommerce in Southeast Asia, still has a penetration rate of less than 10 percent out of total retail Gross Merchandise Value (GMV), presenting significant untapped potential.

Tier 2 to Tier 4 cities account for 75 percent of $175 billion in retail GMV, which is driven by customers that are coming online for the first time.

E-commerce user penetration in these cities is minimal and presents ample opportunities for digitization of commerce and trade, the company said.

KitaBeli currently focuses on selling daily essentials in areas outside Indonesia’s major cities, with faster delivery and cheaper prices. As KitaBeli speeds up its expansion, the company now operates in more than 10 cities across Indonesia.

KitaBeli is funded by GoVentures, AC Ventures, East Ventures, and Angels from the SEA Ecosystem.

UOB Venture Management leads $30M Series B in Indonesia ‘halal’ social commerce platform Evermos