Andalin in discussion for $3 million to gain a portion of the SEA’s US $2.8 trillion International commerce industry
According to CEO Rifki Pratomo of Andalin, an Indonesian startup that provides cross-border shipping solutions, the company is in discussions to obtain US$3 million in a fresh round of investment from both financial and strategic investors, including existing ones.
The money obtained will be used to develop the company’s primary freight operation.
“The money will be used to grow our trading business, scale our trade financing offerings, and introduce our SaaS-based freight management system,” he said.
Pratomo expects to close the round before year-end.
Andalin began offering digital cross-border shipping solutions in Indonesia in 2016, with the goal of assisting local micro, small, and medium companies (MSMEs) in streamlining their import-export operations, from freight arrangements to customs clearance and all in between.
Despite the economic consequences of COVID-19, Andalin states that demand for their services increased by about 5x in 2020, with shipping volume growing by roughly 5x and average revenue per customer increasing by 450% year on year. Andalin claims to have enabled the export and import of commodities worth $50 million in Southeast Asia from 2019 to June 2021.
Andalin has introduced the ‘Andalin Go’ app to increase export and import efficiency, allowing clients to arrange delivery schedules, receive immediate pricing quotations, and interact directly with the company’s professional staff all through one app.
