Indonesia-based social commerce platform Grupin has secured US$3 million in a funding round led by Sequoia Capital India’s Surge, a scale-up programme for startups by the firm. The funding round also saw participation from East Ventures, an Indonesia-focused venture capital firm and Skystar Capital.
“With the proliferation of e-commerce, especially since the start of the Covid-19 pandemic, consumers want a robust shopping experience that not only brings value but also provides engagement,” said Kevin Sandjaja co-founder of Grupin.
Grupin is looking at banking on the rising tide of ecommerce that has seen a surge due to the pandemic. According to a report by venture builder, Momentum Works, In Indonesia, ecommerce is expected to soar to US$60 million by 2025.
“At Grupin, we offer a social experience when shopping, which has been especially engaging for customers in Indonesia, as we see ingrained cultural behaviours like ‘gotong royong’, where friends come together to shop and play,” said Sandjaja.
He added, “We’re excited to grow the team and expand our sourcing reach in and outside of Indonesia,” said Sandjaja.
About Grupin
Grupin was founded by Kevin Sandjaja , ex-CEO Pegipegi and Ricky Christie, who worked previously with Traveloka in January 2021.
The social commerce platform offers a community-based shopping experience and discounts on bulk orders for its consumers. The users can also share deals with family and friends within the app.
Grupin also offers group buys for consumers to get their goods at lower unit prices while offering merchants opportunities to sell goods at bulk to reduce wastage as well as the operating cost.
The startup claims that it has sold hundreds of shop-keeping units, which include packaged foods, baby products, fresh produce, electronics, and kitchen utensils since its launch. Grupin also claims that its user base has grown by 400x.
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