Bezos makes first-ever investment in Southeast Asia’s E-Commerce

Amazon founder Jeff Bezos participated in a $87 million Series B funding for Indonesian startup Ula.
Jeff Bezos. Image: Bloomberg

Amazon founder Jeff Bezos participated in a $87 million Series B funding for Indonesian startup Ula, marking his first-ever investment in Southeast Asia’s e-commerce space.

Bezos Expeditions, Northstar group, AC Ventures and Citius joined the round co-led by Prosus Ventures, Tencent and B-Capital, the e-commerce marketplace Ula said in a statement on Monday. The previous fundraising included $10.5 million seed round in June 2020 and an additional $20 million Series A round in January this year.

The startup that offers technology solutions to small retailers is seeking to expand its base to include more cities in the Southeast Asia’s biggest economy, explore overseas expansion across the region, develop the buy-now-pay-later offering, as well as building local supply chain and logistics infrastructure.

The startup also named Pandu Sjahrir as an adviser. Sjahrir is holding commissioner roles at the Indonesia Stock Exchange, ride-hailing giant PT Aplikasi Karya Anak Bangsa, known as Gojek, and the local branch of Singapore’s Sea Ltd., which owns Shopee and online games developer Garena.

Ula is serving more than 70 000 traditional stores on its platform and offers more than 6 000 products.

© 2021 Bloomberg

COMMENTS   0

You must be signed in and an Insider Gold subscriber to comment.

SUBSCRIBE NOW SIGN IN

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR
BTC / USD

Subscribe to our mailing list

* indicates required
Moneyweb newsletters

Instrument Details  

You do not have any portfolios, please create one here.
You do not have an alert portfolio, please create one here.
INSIDER SUBSCRIPTION APP VIDEOS RADIO / LISTEN LIVE SHOP OFFERS WEBINARS NEWSLETTERS TRENDING

Follow us:

Search Articles:
Click a Company: