With 4,410 registered members, IndoTrading is a business-to-business (B2B) trading portal which aims at helping Indonesian small medium enterprises (SMEs) promote their products online. The startup today announced receiving an undisclosed amount of funding from Rebright Partners, a Singapore-based venture capital firm.
IndoTrading was first founded in mid-2012, and hailed as Best Graduate at Founder Institute’s 2013 Jakarta summer semester, two weeks ago. At the moment, the portal claims to have 30,000 product listings, and over 400 paid premium members.
The latest round of funding will be used to expand the team. According to Handy Chang, Founder and CEO, IndoTrading, the company will be “hiring more experienced and senior people” and expanding to “five big cities in Indonesia.” At the moment, the company has 25 full-time employees based in Jakarta, Indonesia.
Chang told e27 that companies which join the platform are carefully screened, providing a layer of security and reliability. There are also customer support officers available to help these business owners on a regular basis.
He added that it is still a challenge to convince people that the Internet is the right media to advertise their products on. Many companies are still adamant that businesses should stick with advertising on traditional media spaces.
Takeshi Ebihara, Founding General Partner of Rebright Partners, said that IndoTrading has the potential to be a Southeast Asian regional platform. He also highlighted the fact that Chang founded RumahdanProperti.com and sold it to iProperty for a six-digit sum.
Recently, Rebright Partners invested in Indonesian startup Qraved.com, a restaurant booking website. Traditionally, the VC firm has a focus on investing in Internet and mobile startups across Southeast Asia, especially in Indonesia, Thailand, Singapore, Malaysia, Vietnam and the Philippines.