Indonesian beauty platform Social Bella secures $40m Series B funding co-led by Temasek, EV Growth
Summary
Others participating in the round include new investors EDBI, Pavilion Capital and Jungle Ventures. This year, the company opened two O2O concept stores in Jakarta, as it looks to employ an omnichannel approach and offer a more holistic customer experience. “We will invest more in building our digital asset, which is SO.CO,” said Social Bella co-founder and CEO John Rasjid. “This will enable us to expand into a wider segment, accelerate our business further and bring a more comprehensive beauty service.” Social Bella claims to have pulled over 20.2 million registered users cumulatively on its Sociolla, SO.CO and Beauty Journal platform. Another well funded women-focused startup that has recently expanded into the beauty vertical is B2C e-commerce company Sorabel, which is currently raising a pre-Series C round.