Eisya A. Eloksari (The Jakarta Post)
Tue 5 October 2021
Business-to-business (B2B) electronic marketplace Ula pocketed $ 87 million in its Series B funding round led by Prosus Ventures, Tencent and B-Capital, with participation from Bezos Expeditions, a venture capital firm owned by Amazon founder Jeff Bezos, among others.
Ula was Bezos Expeditions’ first portfolio in the Southeast Asia online market segment. The venture capital firm has invested in leading companies such as Airbnb, Twitter and Uber.
Ula co-founder and COO Riky Tenggara said the company will use the funds to develop new features, including a Buy It Now and Pay Later (BNPL) system, and to expand its infrastructure. logistics and its supply chains in small Indonesian towns. The company estimates that BNPL’s domestic market is worth $ 150 billion.
“Solving complex problems in the value chain …
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