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Indonesian KitaBeli secures seed funding for growth

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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.

Established in March this year by Prateek Chaturvedi, 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. This concept is widely known as group buying and is already popular among several Chinese e-commerce companies.

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. This an already exitisting workable concept is widely known as “group buying” which is quite widespread among some Chinese e-commerce companies.

Indonesian consumers are extremely social. They love to share information about deals, discounts, and purchases with their friends and family,” founder of KitaBeli, Prateek Chaturvedi, said in a press statement.

“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,” he added.

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