Komerce, an Indonesia-based startup offering end-to-end e-commerce solutions, has announced raising an undisclosed seed round from Bukalapak founder Achmad Zaky and San Francisco-based venture investor 500 Global.
The firm wants to use the funds to explore and improve its products and to develop more stable features on its platform.
In a recent interaction with DealStreetAsia, Komerce Founder and CEO Nofi Bayu Darmawan said the firm aims to raise up to $2 million in a pre-Series A round in Q4 2024 amid mounting interest from potential investors.
“The process is ongoing, and we’re still waiting for a serious [potential investor]. We don’t need too much as long as it fits our needs. We are targeting $1-2 million. We can go ahead [even with] one institutional investor with the right ticket size,” Darmawan said.
Having a former Bukalapak executive as a backer has been a great support, said Darmawan. At the same time, Komerce has managed to build its own network by joining the fifth batch of the Endeavor Scale Up accelerator programme.
Komerce shared the same batch as Baskit, Elevarm, Finfra, Rekosistem, and others.
Without divulging details, Darmawan said the firm’s revenue grew 300% year-on-year in 2023, and it has been making profits since early 2023.
The firm targets to have a 5% month-on-month revenue growth each month this year, he added.
Komerce was founded in 2020 by Darmawan as part of the efforts to empower small businesses. COO Syaefullah Syeif and CTO Satriyo Budi Utomo later joined in 2021 as co-founders.
At first, the firm provided remote professional e-commerce teams that could support small business operations such as livestreaming, customer service, or any administrative work. The firm sourced talent from Central Java and Jogjakarta.
Komerce charges an administrative fee for each talent deployed to a small business.
“It brought positive social impact to young people in Central Java and Jogjakarta, hence the support from Zaky and his team in our angel round,” Darmawan said.
Later, Komerce expanded its offerings to shipping management, warehousing, as well as omnichannel and marketplace operations. It recorded over 2 million transactions by online sellers within its ecosystem last year.
Komerce claims not to have direct and identical competition. Each of its offerings, however, competes with service providers such as Shipper, Jubelio, or Crewdible.