In its official statement, the company cited “more products, optimised prices through volume, instant regional stability, and strong Indonesia” as the reasons for the merge.
“With this move, we have more than doubled our buying power and transaction volume, ultimately creating more meaningful economies of scale … We are now well-positioned in both Thailand and Indonesia to accelerate our growth and country expansion timetable by over 18 months,” said Ferry Tenka, former Indonesia CEO of Bilna.
Under the new arrangement, Tenka will serve as Indonesia CEO and Executive Chairman of MoxyBilna. Jeremy Fichet will be Group CEO of MoxyBilna, Eka Himawan will be Executive Vice Chairman and Group CFO, while Andrew Senduk will be Indonesia Chief Revenue Officer.
The company will also move to Bilna’s former head office in Slipi, West Jakarta.
Women drive the growth of online shopping in the Southeast Asian region, with 63 per cent of them browsing for products and services at least once a day, according to a report by the Economist Intelligence Unit.
They also play a key decision-making role in the purchase of household goods, with data revealing that the number of women in senior roles in Indonesia and Thailand increased over the years at 41 per cent and 38 per cent respectively.
“[The merger] amplifies the shared vision to fuel the female economy in Southeast Asia focussing on the vastly underserved needs of the women consumer,” said Shannon Kalayanamitr, Group CMO of MoxyBilna.
In terms of plans, representative from MoxyBilna hinted that the company will be announcing a funding round in a couple of months.
“Enjoy 2-for-1 tickets to Echelon Indonesia 2016 now. Do not miss out on Indonesia’s biggest international tech conference!”
Disclaimer: Moxy Asia is an Ardent portfolio company. Ardent Capital is an investor in Optimatic Pte Ltd, the parent company of e27.