Indonesian e-commerce solutions provider Sirclo has announced that it raised US$6 million Series B funding from a consortium of investors including East Ventures, OCBC NISP Ventura, Skystar Capital, Sinar Mas Land.
Sirclo primary business creates online solutions that will enable other brands to sell online faster.
CEO and Founder of Sirclo, Brian Marshal said the fresh funds will be used to enhance their proprietary technology. “We plan to allocate this injection of funds to help strengthen our internal infrastructure and to keep serving the growing number of businesses that are entering e-commerce, including clients who have trusted our services,” said, CEO and Founder of SIRCLO.
Amidst the COVID-19 pandemic, the Indonesian Ministry of Information noted that online shopping transactions have increased by up to 400 per cent. The crisis also accelerates e-commerce penetration.
As per SIRCLO Insights’s 2020 e-commerce report, the company saw 12 million new users as stringent social distancing measures were on in Indonesia.