Indonesia-based Baskit, a technology and financial services platform focused on digitizing offline distribution networks in Southeast Asia, has secured $4.4 million in a Series A funding round.

In a release on Wednesday, Baskit said the round was led by Cento Ventures, with participation from Kaya Founders, Analog Ventures, and Orvel Ventures. This follows Baskit’s earlier pre-seed and seed funding rounds in early 2023, bringing its total equity funding to $9.9 million. In addition, the company obtained a $3 million revolving credit facility from HSBC Innovation Banking.

The new funding will support Baskit’s expansion across Indonesia and its entry into the Philippines, marking its first market outside Indonesia.

Baskit operates in a region where offline channels still account for more than 90 percent of trade, despite the growth of e-commerce. The company provides tools to help brands manage distribution networks, including coordinating distributors, wholesalers, and retailers, while offering visibility into inventory and performance.

Since its commercial launch, Baskit has partnered with more than 60 brands and works with hundreds of distributors and wholesalers in Indonesia. Its network includes both general trade and modern retail channels, including retailers such as Alfamart, Circle K, and Boots.

A central part of Baskit’s model is integrating financial services into its platform. The company provides embedded credit and payment solutions to support distributors in financing inventory and improving liquidity. It collaborates with financial institutions including HSBC and payment networks such as Visa.

Investors say the company’s approach focuses on addressing the complexities of offline distribution in fragmented markets, which they view as a foundation for further development of financial services and data-driven tools.

With the new funding, Baskit plans to strengthen its position in Indonesia while expanding regionally, starting with the Philippines, as it continues to develop its distribution and financial services platform.

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