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Investment  11, Dec 2013

M-commerce app Duriana receives US$800K from Dealguru Holdings

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What will Singapore-based mobile marketplace app Duriana go on to achieve in new markets after this injection of funds from Dealguru?

Launched a month ago, the company behind eponymous Singapore-based mobile peer-to-peer marketplace app Duriana has announced today that it has secured S$1 million (US$800,000) in funding from Dealguru Holdings Pte Ltd and a group of international angel investors.

In addition to its presence and headquarters in Singapore, the firm which was jointly started by Alps Ventures and two former Rocket Internet staffers, Amanda Ernst and Camilo Paredes has now expanded into Malaysia and Indonesia.

Duriana also claims to have generated “considerable traction” since its launch in late November. Patrick Linden, CEO, Dealguru Holdings Pte Ltd, also shared that there is a “sizeable market opportunity in peer-to-peer classifieds that no one has been able to fully nail”.

Of course, there is local-based competitor Carousell, which has announced its plans to move into Malaysia and Indonesia after receiving S$1 million (US$800,000) in funding from Rakuten Ventures and other investors.

Camilo Paredes, Co-Founder, Duriana, also noted that the funds will be used to scale up IT and broaden Duriana’s product offerings, as well as finance marketing activities in new markets.

The app also claims to have garnered several thousand listings across various categories in all three markets collectively.

Read also: The Star launches US$6.59M fund to invest in Malaysian startups

Image Credit: EDHAR / Shutterstock

Elaine Huang

Elaine Huang

Elaine is a fervent believer that if there ever is a zombie apocalypse, we will all be snapping away at them with our phones and posting them onto Instagram. A Mass Communication graduate of Ngee Ann Polytechnic's School of Film and Media Studies, she enjoys writing about technology and entrepreneurs. When not hashtagging her way through all sorts of trouble, Elaine is probably contemplating how to write in the third person.

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