Jakarta: KitaBeli, an Indonesia-based startup, has raised an undisclosed amount of seed funding round to help users do group buying through their platform.
East Ventures led the deal with participation from AC Ventures and some angel investors.
The fresh capital will be used by the company to expand locally, potentially across two-to-four cities.
Founded in March this year, KitaBeli is a social commerce platform where users can invite their friends to form groups to receive discounts from suppliers of fast-moving consumer goods (FMCG) products
Co-founder of KitaBeli, Prateek Chaturvedi, said in a press statement.“Indonesian consumers are extremely social. They love to share information about deals, discounts, and purchases with their friends and family. We saw that other platforms have not been able to tap into this behaviour. KitaBeli gives users a convenient way of sharing purchases with their friends and inviting them to buy together and save money. As a result, everyone can get lower prices for daily needs.”