Desty, an Indonesia-based startup building a full stack e-commerce solution for merchants, announced Thursday it has raised a new round of funding led by Square Peg.

This is in addition to funds raised from a Pan Asia investor base last year, including East Ventures, Jungle Ventures and 5Y Capital and other prominent angel investors in the region, Desty said in a statement.

It said it plans to leverage its new funding to further product optimization, team expansion and user acquisition.

“We are very delighted to have Square Peg supporting us with their extensive experience investing in comparable business models across the globe. Indonesia has a very unique digital economy with notable fragmentation across merchant traffic, sales channels, payments and logistics,

“We strongly believe that our full stack approach to empowering merchants with our suite of enablement tools will solve their pain points most effectively.” said Desty Co-Founder and Chief Executive Officer Mulyono Xu.

Desty provides a suite of digital tools that helps merchants, from online sellers to food and beverage (F&B) establishments to operate their businesses through a unified platform. The firm is leading in the Indonesia market reaching almost one million users with 33 times year-on-year growth.

Over the past year, Desty has enhanced its multiple merchant enablement tools and proprietary tech infrastructure to offer a full stack e-commerce use case across Link-in-Bio (, an Online Store Builder (, a Digital Ordering Menu ( and an Omni Channel Dashboard (desty.omni).

Over the last few months, Desty has rolled out new features that have improved merchants’ capacity to handle transactions, and has seen an average 250 percent month-on-month growth of gross merchandise value (GMV) over the last quarter.

Its solutions has quickly gained the trust among notable merchants such as celebrity-owned Luna Habit and NAMA Beauty by Luna Maya, Purnama Beauty by singer Lesti Kejora, Bakmi GM, Farrah Quinn, DAMN I Love Indonesia of Daniel Mananta, Janji Jiwa, Fore Coffee, Dore by Letao, iBox, Electronic City, Nacific, Bakmi GM, Old Chang Kee, Omija, Samjin Amook, Vilo Gelato, BudsOrganic, Titan Tyra, Nasi Kulit Syuurga, Kopi Nako, and many more.

“We wanted to partner with Desty, not only because of the traction and customer love we’ve seen so far, but also because of the technical and go to market talent Muly and Bill were able to bring together. Muly and Bill are bringing in years of industry expertise and best practices that will help unlock economic opportunities for millions of small businesses in Indonesia and the rest of Southeast Asia,

“We are excited to partner with the Desty team on its mission to bring merchants online, and help them operate seamlessly across Indonesia’s increasingly crowded e-commerce space.” said Piruze Sabuncu, Partner at Square Peg.

Square Peg is a global technology investment firm managing more than $1 billion in committed capital, and has actively deployed over $200 million in Southeast Asia into companies such as PropertyGuru, Finaccel, Pluang, and Doctor Anywhere over the last few years. Square Peg also operates across Australia and Israel, and counts Canva, Airwallex and Fiverr in its portfolio.

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