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GudangAda secured “Double Digit” Seed Funding

Indonesia’s FMCG marketplace GudangAda secured a massive “double digit” seed funding led by Alpha JWC Ventures and Wavemaker.

GudangAda is an FMCG (Fast Moving Consumer Goods) marketplace that brings together and unites wholesale traders in a wider scope online with a B2B business model. The platform presents a solution for the general trade business to have an online platform to trade more efficiently and cuts transaction costs.

Led by Alpha JWC Ventures and Wavemaker, GudangAda announced a “double-digit millions” in its seed funding round. Private equity fund Pavilion Capital also participated in the said round.

Though the exact amount of the round was not disclosed, Alpha JWC managing partner Chandra Tjan said that the round is one of the ‘largest seed rounds in Indonesia’. He also assures that the fund will help GudangAda play a pivotal role in empowering the FMCG ecosystem and be the leading player in the region.

“It’s a tough industry to break into. Many similar tech players have tried yet many have failed or are struggling now. We build our business based on our experience and deep understanding in the industry to see which are important for the PMCG players, their pain points that we can touch, and how to influence them best,” said Stevensang, GudangAda’s Founder.

“It is also worth noting that in this industry, relationship and trust are the most vital factors, and we’re fortunate that our record before this can provide that and bring us to where we are right now,” Stevensang added.

Supported by an experienced tech team behind a user-friendly, simple yet sophisticated website and mobile app, GudangAda business partner can conduct transactions anytime, anywhere, reduce business risks, an be up to date with the ever-moving FMCG world.

Commenting on the side of Mavemaker Partners is Paul Santos, Managing Partner, saying,” On the surface, FMCG distribution might seem like an old industry that can be easily disrupted by technology startups. In reality, it is still largely offline and relationship-driven with habits that may not be so easy to change. We are excited to back gudangada which is guided by Stevensang’s insightful approach.”

The new funds will also be used for the expansion of the company and the company’s service offerings.