JAKARTA (TheInsiderStories) – Warung Pintar, a micro retail technology startup firm, today announced the acquisition of Bizzy Digital, an integrated logistics and distribution supply chain B2B platform, for US$45 million. The deal combined 600 brands and serve 230,000 retailers in 65 cities across Indonesia and support nationwide networks of distributors.
Both companies share a synonymous mission in transforming traditional retailers and improving efficiencies along the fragmented supply-chain in Indonesia, but approach the problem from two distinctive angles. Founded in 2017, Warung Pintar solves the day-to-day problems faced by micro-merchants around Indonesia by leveraging technology.
Micro-merchants, known as “warungs” are a big part of Indonesia’ economy, contributing to 70 percent of the total retail transactions in the country. Its remarkable growth in the middle of pandemic is the result of its prudent approach in avoiding excessive cost and its laser focus in creating better products for its users.
“Having Bizzy Digital as part of the bigger Warung Pintar ecosystem will enable us to guarantee product reliability, availability and fair pricing by working hand-in-hand with the brands’ distributors.” said Agung Bezharie, co-founder & CEO of Warung Pintar.
Post transaction, Bizzy Digital still maintain its entity and act as a bridge that focuses on bringing deeper collaboration with brands and distributors, he adds. The CEO of Bizzy Digital, Andrew Mawikere, commented, “This combination will enable us to serve brands and distributors with unprecedented value-added, data-driven strategy at scale.”
While co-founder East Ventures, Wilson Cuaca, stated, “Warung Pintar comes from a demand-side platform and Bizzy Digital comes from a supply-side platform. Combined they will be able to serve both consumers, retailers and brands in the most effective way.”
Warung Pintar is one of the fastest growing startups within East Ventures portfolio and the round was close pretty fast. Since its first inception, its kiosks number has grown by 575 times within 12 months. In addition, the startup have 110 percent of Social Return On Investment.
One reasons all this growth are possible is because of to the hard work from all team whom we called AnWar (Anak Warung), refer to people who like hanging out in the shop. Starting from 2 kiosks on January 2018, now Warung Pintar has more than thousand of kiosks and aimed.
In 2020, the country’ B2B e-commerce revenue contributed less than a half of the total e-commerce revenue. The combined companies also boast a larger shareholder foundation to support growth going forward.
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