Chilibeli closes US$10 million, gearing for more robust growth

JAKARTA, Indonesia, March 19, 2020 /PRNewswire-PRWeb/ -- Chilibeli, the leading community-based social commerce platform that connects farmers and manufacturers to bring fresh and quality products to every household at affordable prices, has raised 10 million (USD) from round led by Lightspeed Ventures with participation from renowned investors such as Golden Gate Ventures, Sequoia Surge, Kinesys Group, and Alto Partners.

Launched in July 2019 by co-founders Alex Feng, Damon Yue, and Matt Li, the platform brings about a new era of grocery shopping - with added focus on comfort, convenience, and quality. Chilibeli empowers their agents (mitra), many of whom are housewives, with the opportunity to create value for consumers, promote community bonding, and increase their household income. Since its inception, the company gained 150% month-on-month growth, and also has created 300+ direct jobs and thousands of indirect jobs for Mitra Chilibeli in Indonesia.

Justin Hall, Partner, Golden Gate Ventures, said, "When Alex, Damon, and Matt came to us with the idea of Chilibeli, we were fascinated with the idea of delivering household goods through an engaged, vibrant mitra in a convenient, affordable way. In many ways, the Chilibeli team is tapping on something that other platforms to date haven't been able to successfully leverage: the trusted social circle".

"By building a technology platform that taps into everyday Indonesian's network, they're unlocking new, innovative ways to shop, collaborate, and even earn a living. We're extremely excited to witness the Chilibeli team connecting Indonesia's farmers, suppliers, and customers into one mitra, and we're honoured to join them on this journey," continued Justin.

Alex Feng, CEO of Chilibeli, said, "On behalf of Chilibeli, I would like to thank our investor for believing in our product. The funds are being used to strengthen Jakarta, Tangerang Selatan, and Depok's networks of communities, while also expanding our reach to Bogor and Bekasi. On top of that, we continue to improve the UI and UX of our application, as well as advancing the facility of our Depok's warehouse. The strong backing from renowned investors has been crucial in strengthening and helping scale our future growth and continue to make a meaningful and positive impact to Indonesian society."

"These rounds of funding have officially made Chilibeli a Series-A company merely 7 months after it was established – one of the fastest-growing start-ups in Southeast Asia. The company will continue to listen to feedback, innovate, and add user-friendly features to enhance the overall experiences", continued Alex.

Akshay Bhushan, Partner, Lightspeed Venture Partners, mentioned, "We're excited to partner with the Chilibeli team which is building the next scale commerce platform for Indonesia and the broader Southeast Asia region. The power of the Chilibeli social commerce platform comes from empowering local communities across the emerging middle class in Indonesia through access to affordable & value products while driving livelihoods for various stakeholders in the Chilibeli ecosystem such as farmers, housewives and small businesses in these communities."

"Our conviction in leading the Series A for Chilibeli comes from having invested and helped scale several multi-billion dollar valued social and commerce platforms globally in China, India and the US such as Pinduoduo, Udaan, Snapchat and Sharechat," said Akshay.

Yansen Kamto, Founding Partner, Kinesys Group, added, "Chilibeli's intelligent commerce concept is in line with our mission to invest in human intelligence, which leads to the betterment and improvement of welfare and well-being. We believe in critical thinking, social pursuit, and holistic approach that further manifest as the benchmark for smart and agile solutions. We are excited to be part of Chilibeli's historic rise, and we are a firm believer of its prowess in conquering the vast social commerce landscape in the country."

With the maturing digital consumption, robust growth of e-commerce contribution to the national economy, high-adoption of digital payment, and progressive logistical advancements, social commerce's penetration is still low. As 20% of Indonesian household's expenditure is spent on groceries, there is a huge gap between potentials and this presents an untapped market potential that is meant to thrive.

Indonesian women, especially housewives, being in control of household spending, are seeking opportunities to pursue their aspirations by also finding another source of income to the family. Chilibeli saw this as a social opportunity that benefits housewives by leveraging social networks amongst their communities and neighborhood through the most basic household spendings, and also by making the price of groceries more affordable compared to the price of the market, daily. Thus, solidifying Chilibeli as the pioneer digital platform in social commerce that champions the welfare of Indonesian housewives everywhere.

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About Chilibeli Founded in July 2019 by co-founders Alex Feng, Damon Yue, and Matt Li, Chilibeli is a community-based social commerce platform that connects farmers and suppliers to bring fresh and quality products to every household at affordable prices. Headquartered in Jakarta, Indonesia, the platform brings forth a new era of grocery shopping - with added focus on comfort, convenience, and quality. Chilibeli empowers their agents (mitra), many of whom are housewives, with the opportunity to create added value for consumers, promote community bonding, and increase their household income.

Website : chilibeli.com Desktop : chilibeli.id Email : [email protected] Instagram : @chilibeli.id

SOURCE Chilibeli

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