Indonesian social commerce platform KitaBeli raises $20M funding led by Glade Brook

KitaBeli, the largest fast-moving consumer goods (FMCG) social commerce platform for consumers in Indonesia’s second-and third-tier cities, announced Monday that it has closed a $20 million funding round led by Glade Brook Capital Partners (Glade Brook), a global growth equity investment firm. Its existing investors, AC Ventures and GoVentures joined the…

Indonesia social commerce platform KitaBeli bags Series A extension from Meesho founders, Kopi Kenanga Capital & others

The additional funds will be utilized for KitaBeli’s expansion into more cities, as well as build out a wider stock-keeping unit mix.

AC Ventures insights: Emerging e-commerce opportunities in Indonesia

Indonesia’s total retail market is on track to cross $300 billion in the next three years, and with e-commerce just reaching $30 billion in 2020, there are still excellent growth prospects. For example, the largest single share of groceries alone makes up over $70 billion, with estimates of online penetration barely crossing 0.5 percent in 2021.