Deal

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.

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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

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