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Social commerce start-up Orderfaz bags pre-seed funding from Singapore VC firm
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(From left to right) Orderfaz cofounders Mohamad Iqbal, Jessica Alvina and Reynaldi Gandawidjaja (Courtesy of Orderfaz/Orderfaz)
Homegrown social commerce start-up Orderfaz says it has completed a pre-seed funding round led by Singapore’s 1982 Ventures.
Orderfaz was launched in March and focuses on helping brands and sellers improve online sales conversion rates.
In its first two months of operation, around 600 sellers signed up for the compnay’s services, it said.
Reynaldo Gandiwidjaja, the CEO of Orderfaz, said Indonesia’s impressive growth in social commerce had encountered constraints because of limited options for sales channels, particularly for retail and e-commerce.
“We set out to create Orderfaz to provide new avenues for sellers and act as a one-stop shop for social commerce businesses to boost revenue, improve operations and achieve efficient conversion rates,” Reynaldi said in a statement on Thursday.
Read also: Aquaculture unicorn eFishery reels in US$200m in funding
Approximately 86 percent of Indonesian consumers have used social media for online shopping, according to Orderfaz.
