Indonesian fashion site Berrybenka raises $5m Series B
Japan's Transcomos has led a $5 million Series B round of funding for Berrybenka, picking a more than 30% interest in the Indonesian fashion e-commerce start-up. Existing backer GREE Venture also participated.
The company claims this is one of the largest Series B rounds ever seen in Indonesia.
In January, Berrybenka secured funding from Gree Ventures in a Series A round, having received seed capital from East Ventures in 2012. The two-year-old fashion company sells women's clothing and accessories, as well as kid's clothing.
The new funding will be used to expand product categories and logistical capabilities such as cash-on-delivery and one-day delivery options. Berrybenka also wants to launch mobile apps and a personalization and recommendation service to enhance customers' shopping experience, according to a statement.
Transcosmos will contribute expertise and systems support across call center and digital marketing operations.
"With this strategic investment with Berrybenka.com, Transcosmos will be able to accelerate 'e-commerce one-stop services' in the Indonesian market, which has huge potential backed by a 240 million population, the largest in the ASEAN region," said Masataka Okuda, president and COO of Transcosmos.
Founded in 1966, Transcosmos provides IT outsourcing services such as call center services, business process outsourcing, and digital marketing.
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