Led by Japan’s SBI Group, the round also saw participation from Addventures and startup incubator-cum-investor Digital Garage

Ralali, an online B2B marketplace in Indonesia announced today it has secured US$7 million from a host of investors, including Japan’s SBI Group; AddVentures, the corporate VC arm of Thailand’s SCG (Siam Cement Group); and Digital Garage, a global digital innovator/incubator.

Southeast Asian venture capital firm AddVentures (owned by Thai company SCG) and Japanese startup incubator-cum-investor Digital Garage also joined the round.

Ralali will use the newly-raised capital to accelerate its services and expand into global markets, including Thailand where it will collaborate with SCG, a leader in building materials and industrial supplies. Ralali.com will leverage the business network of SCG to start this expansion. This collaboration expected to happen around Q1 2019 starting with building materials and MRO (maintenance, repair and operation and office supplies) categories first.

“We have expanded beyond MRO and office supplies to other business segmentation such as food supplies, building material, and automotive supplies,” said Joseph Aditya, CEO of Ralali.com. “B2B e-commerce platform in emerging market is still fragmented in terms of supply chain, we strive to enable business to have better integrations in terms of products offering combined with the services in one platform. Achieving this we target to reach US$1B of gross sales by 2020.”

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Ralali, established in 2013, provides an online platform for manufacturers to sell directly to shop owners and merchants. The platform connects around 150,000 resellers, wholesalers, retailers, and transformers. It claims to have more than 10,000 suppliers in 20 cities, with annual transactions growing five times than previous year.

SBI Investment Executive officer Tomoyuki Nii, said: “We believe the B2B e-commerce platform will have a promising growth and we can support the company in the area of fintech such as introducing a financial lending platform to it.”

In 2015, Ralali raised US$2.5 million from Beenos Partners, Cyber Venture Partners and East Ventures. Previously, East Ventures invested an undisclosed seed funding into the company in 2014.

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