Before gaining Series B funding, the Gross Transaction Volume (GTV) of the iSeller increased five times to over US$600 million in the last two years.
Heaptalk, Jakarta — iSeller, Indonesia‘s omnichannel-based point of sale (POS) platform for online and offline merchants, has completed its Series B funding worth US$12 million (Rp179 billion), led by Intudo Ventures and backed by KVision (Kasikornbank). Other investors support this round as angel investors, including Mantri Capital and OpenSpace Ventures.
Obtaining this fresh capital injection, iSeller will launch its latest version of the flagship product, focusing on enhancing users’ experience with outstanding platform performance. Also, in the further prospect, iSeller aims to reach its profitability three years ahead, focusing on improving customer lifetime value (CLTV) by conducting strategic partnership, acquisition, and comprehensive and integrated business value-added services.
Leading the investment round, the Founding Partner of Intudo Ventures, Patrick Yip, conveyed, “Indonesia’s business ecosystem has historically experienced fragmentation and inefficient processes. The company has achieved significant enhancement in the last years by stimulating the digital transformation towards Indonesia’s sellers, utilizing the team expertise related the SaaS, omnichannel, and integrated payment for a market in the country. Thus, we are pleased to back iSeller to lead the market with significant business progress,”
Business escalation of iSeller
Marked its inception as Shopify of Indonesia, iSeller provides all-in-one solutions with a complete integrated ecosystem for businesses to digitize sales and operations, including POS, digital payment acceptance, management inventory, instant online store, market integration, and food delivery.
In the last two years, iSeller has more than quadrupled in acquisitions and merchant revenue, while Gross Transaction Volume (GTV) has increased five times to over US$600 million. This technology startup has perceived fifteen times enhancement of the use of market integration features in the iSeller ecosystem and four times growth in online shop channel adoption.
This POS platform has strengthened the customer experience team with more than 100 new employees in the last ten months to contribute to this dramatic growth. Currently, iSeller is the only omnichannel-based selling platform fully integrated with the four significant marketplaces in Indonesia: Tokopedia, Shopee, Lazada, and Fliply.
Further, iSeller startup has also cooperated with Mandiri Bank as the official POS platform devoted to the Mandiri Merchant Livin program, covering more than three million businesses. As a part of financing access, iSeller has also acquired YUKK, a payment gateway licensed by PJSP.
“We have encountered significant growth boosted by enormous demands of MSME and business online for the all-in-one solution. For this reason, our solution is not solely simplifying the daily operation yet granting positive business growth for long-term accomplishment. We are grateful for the support from new and existing investors. This new injection will contribute to us in developing our new product and service to expedite the digital economy in the archipelago,” The Founder and CEO of iSeller, Jimmy Petrus, said.
