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Singapore's Una Brands commits $35 million to roll up Indonesian brands
The e-commerce aggregator plans to buy and expand local companies that have been selling on Tokopedia, Lazada, Shopee, and Shopify.
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Una Brands cofounders (left to right) Tobias Heusch, Kiren Tanna and Kushal Patel (Una Brands/-)
U
na Brands has announced its launch in Indonesia with a plan to invest Rp 500 billion (US$35 million) in 2022 to support local brands through acquisition, working capital injection, operational support and international expansion.
In a press release published on Monday, the Singapore-based e-commerce aggregator said it planned to “make Indonesia a strategic sourcing hub to expand the supply base of its current brand portfolio.”
The start-up has signed exclusive agreements with multiple brands in Indonesia, and said it was targeting to acquire 12 to 15 more in 2022 to “make them global, well-loved and enduring household names.”
Una Brands is currently present in nine markets in the region, including Indonesia, Singapore, Malaysia, Australia, China, India, Korea and Japan. Since its launch in early 2021, the start-up has secured funding of $55 million from investors including Indonesian venture capital firm Alpha JWC Ventures.
“Indonesia is one of Una Brands' top priorities. We see an opportunity not only to acquire great local brands and help them expand in Indonesia and globally, but also in making Indonesia a strategic sourcing hub for brands in our portfolio in addition to our China sourcing hub," said Una Brands cofounder and CEO Kiren Tanna.
Indonesia has seen growing interest from e-commerce aggregators. Homegrown brand aggregator Open Labs announced in October plans to spend $100 million to acquire just over half or full ownership of local small businesses with the aim of upscaling their branding and operations.
Read also: Open Labs to spend $100M to acquire more local brands
