Indonesian B2B marketplace GudangAda raises more than $100M in new funding
Summary
Principal manufacturers and distributors on the platform range include food products company Sido Muncul, seasoning maker Sasa and British multinational consumer goods group Reckitt Benckiser. Over the past 10 years, Stevensang told TechCrunch that logistics costs in Indonesia have increased to among the highest in the world, impacting the whole supply chain, especially SME buyers. GudangAda helps lower operational costs by connecting principal manufacturers, distributors and retailers, and handling almost all aspects of B2B buying, including deliveries. Being connected to multiple suppliers on the same platform also lets small retail stores that sell a large selection of items, but don’t have the buying volume to order directly from distributors, to purchase inventory at competitive costs. In the future, GudangAda plans to partner with banks that will provide working capital for SMEs, enabling them to apply for loans using their data on the platform.