PasarPolis will use the fund to advance its AI technology and expand deeper penetration in its three operating markets-Indonesia, Thailand, and VIietnam.
The fresh fund, combined with its undisclosed amount of seed funding led by East Ventures in April, is said to have brought its total funding to eight figures.
Led by B Capital and Insignia Ventures Partners, the new fund will support Payfazz in strengthening its network in Indonesia’s rural economy and exploring opportunities in expanding across Southeast Asia.
Securing a large amount of funding amid the pandemic shows investors’ trust in Social Bella in becoming a prominent player in Indonesia’s $8.5 billion beauty and personal care market.
