VC-backed SE Asia e-commerce sites to merge

The companies announced the merger on their respective Twitter feeds, with the combined firm to be called MoxyBilna. Moxy CEO Jérémy Fichet will take over as CEO of MoxyBilna; other leadership positions are expected to be evenly divided among both companies' executive teams, according to a Tech in Asia report linked to by Moxy.

MoxyBilna plans to expand further throughout Southeast Asia, with Vietnam, the Philippines and Malaysia likely targets. The two companies will form a single brand with a unified website, rather than keeping operations independent.

Moxy and Bilna are both present in Indonesia, though Moxy, which initially focused on fashion before broadening to include other products aimed at women and families, was founded in Thailand and only entered Indonesia last June. Bilna, which primarily markets to mothers with young children, is based solely in Indonesia.

Bilna has several VC backers, including Cyberagent Ventures, which has contributed an undisclosed amount across two funding rounds, one in 2012 and one in 2014. The latter round also included East Ventures and Golden Gate Ventures.

While Moxy has not received direct VC funding, it is a subsidiary of WhatsNew Group, a portfolio company of Ardent Capital. WhatsNew acquired Moxy in January 2015.

Ardent has been a frequent supporter of Southeast Asia's e-commerce sector. Through its inhouse VC accelerator arm, Ardent Labs, it launched shipping solutions provider aCommerce, for which Ardent participated in a $5 million round last year. Ardent also committed $2.2 million to Indonesian business-to-business e-commerce service provider Bizzy in July 2015.

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