As originally reported by Anisa Menur A. Maulani on e27. Original article can be found here.
Jakarta-based online C2C marketplace for secondhand goods Jualo today announced that it has received ‘multi-million US Dollar’ Series A funding led by NSI Ventures. Alpha JWC Ventures, who had participated in a seed round for the startup, also took part in this round.
The startup plans to use the funding to expand its operations to Southeast Asia, acquire talent and develop product.
It also aims to secure market leadership in Indonesia’s highly competitive market for secondhand goods trading, currently dominated by OLX, within the next 18 months.
“There are three things that we are looking for in a company. One, a strong and passionate team. Two, a product that solves a big, fundamental problem. Third, we focus on Series A and B investment to help grow traction … Those are the three things that we find in Jualo,” explained Shane Chesson, Partner at NSI Ventures.