ShopDECA gets funding from Polaris Digimedia; opens store in SG
There are a lot of developments at Indonesian e-comm store ShopDECA; not only did it secure funding, it is opening a new store in Singapore, in addition to acquiring ERIINBy Terence Ng 03 Apr, 2014
ShopDECA, a curated e-commerce lifestyle store based in Indonesia, announced today that it has secured a round of funding from Polaris Digimedia, a subsidiary of Singapore-based, listed mobile phone and electronics distributor Polaris Limited. This follows a seed funding round by East Ventures last June.
In addition, ShopDECA is launching in Singapore today. Offering lifestyle accessories curated from all over the world, ShopDECA will be offering free shipping all over Singapore for limited time as part of its promotional efforts.
ShopDECA will also be acquiring ERIIN, a Singapore-based online store focusing on curated women’s clothing and accessories. To ensure a smooth transition for suppliers and customers, ERIIN’s traffic will be directed to ShopDECA over the next three months.
According to Andreas Thamrin, Founder of ShopDECA, the move to launch in Singapore was motivated by the city-state’s proximity to customers living in the Southeast Asian region. “We are very excited to be the first Indonesian e-commerce site to expand beyond Indonesia. Singapore is also our hub to be able to ship to our global customers efficiently,” he said.
The investment into ShopDECA represents a diversification of core businesses for Polaris Limited. Noted CEO Peter Ang, “Our investment in ShopDECA is part of our strategy to expand beyond telco and IT retailing in Singapore. We believe that the lifestyle segment will grow in the region in the coming years.”
ShopDECA’s funding and move to Singapore also constitutes a vindication of its seed investor East Ventures. “We are fortunate to work with Andreas’s team and witness ShopDECA’s growth from ideation phase to product/market fit phase,” said Willson Cuaca, Managing Partner of East Ventures, adding, “This new financing will help them to achieve their next milestone faster.”
ShopDECA’s plans after this funding round is to quickly expand reach to the region and beyond, aiming to become the premier lifestyle shopping destination in Southeast Asia. Julie De Cuyper, Co-founder, ShopDECA shared that the clientele’s needs will play a huge role in this growth. “Our customers are not tied to a country, but to a community of design lovers, looking for something unique, of quality and a cutting-edge online shopping experience,” she said.