Indonesia’s collectibles marketplace Kick Avenue announced raising $2.9 million in its Series A funding round backed by Korea-based KREAM and Malaysia’s SneakersLAH.
Started in 2017 by co-founders Christopher Eko, Alwin Sasmita and Reinaldo Gunawan, with Jeffry Jouw, co-founder of USS Network as the Business Advisor, Kick Avenue grew to become one of the most well-known marketplace for hype enthusiasts in Indonesia, which offers varieties of mainly sneakers from international and local brands such as Adidas, Nike, Ventela and many more.
After securing the seed funding by Insignia Ventures Partners at the end of 2019, Kick Avenue launched the luxury category which provides high-end designer products, adding more brands and variants to the marketplace thereby extending the target markets.
A mixture of customer to customer (C2C) and business to customer (B2C), Kick Avenue attracts both buyers and sellers to use the platform, providing practicality in terms of transaction, user interaction and trustability. The company is also prioritizing authenticity for all of the products listed on the website, ensuring safe and convenient shopping experience for the customers.
Year by year, Kick Avenue has only seen constant growth and by 2022 gained over 100 million in user traffic.
Kick Avenue will allocate the received funding to enhance customers’ selling and buying experience which include providing a physical showroom to give a more tactile environment while bringing in new customers as well as providing more selections and benefits at the same time.
“Making sure of customer satisfaction for both buyers and sellers is definitely our current main objective and naturally the general sales will follow,” said Kick Avenue COO, Alwin Sasmita.
Furthermore, penetrating the luxury market has always been crucial for Kick Avenue, and expanding the luxury category by promoting better services is going to be at the top priority list.
The CEO of Kick Avenue, Christopher Eko stated, “We are still striving to become the go to option for the market in procuring authentic collectibles amidst the ever growing counterfeit products, Kick Avenue hired quality talents, thus by the combined forces of trained human expertise and technology’s precision, we strive to eliminate the risk of having counterfeits circulating in our process and moreover, onto customers’ hands ”.
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