kindrik partners advises indonesian startup shoplinks on US$900k seed round
Our Southeast Asia team has advised Shoplinks, an Indonesian FMCG precision marketing platform, on its recent US$900,000 seed round. The round was led by Cocoon Capital and the Indonesian Women Empowerment Fund.
Shoplinks offers FMCG brands a marketing platform that distributes personalised coupons to shoppers through both online and offline channels in Indonesia. Founded in 2019 by serial entrepreneurs Teresa Condicion and JD Lee, the company aims to create a solution for brands that optimises their promotional budgets and reduces wasted budget from lack of personalisation of coupons to shoppers. In Indonesia, the lack of digitalisation in mom-and-pop stores and supermarkets often made it difficult for brands to effectively reach their customers, a situation that was compounded with the Covid-19 pandemic. Today, Shoplinks partners with brands such as Proctor & Gamble, Unilever, and Johnson & Johnson, processing thousands of coupon redemptions every month.
With its new round of funding, the company intends to increase its market presence in Indonesia before expanding into other Southeast Asian markets. The funds will also be used to grow its team and invest in product development.
Partner Lee Bagshaw says of the deal, “Indonesia’s online and offline retail opportunity is one of the largest in the world and is ripe for digital disruption. We look forward with interest at how Shoplinks will use their latest round of funding to accelerate digital transformation in the region.”
Read our other recent deal announcements here.