Social commerce enabler Desty continues business expansion, bags Rp45.8 billion funding

Desty, a local social commerce startup, announced on 19 July that it has raised $3.2 million or Rp45.8 billion in its pre-Series A funding. The investment is led by 5Y Capital whose portfolio consists of Xiaomi, along with its existing investor East Ventures and other investors, such as Fosun RZ Capital, January Capital and In Capital. 

Desty is a newfound start-up focusing on providing tools for online sellers, influencers and creators to create their online presence. With Desty, merchants are able to go digital instantly. Desty offers two main services, namely Desty Page, which redirects consumers into a designated landing page where merchants promote and sell their products, and Desty Store, which provides a platform for users to open an online store to complement their marketplace presence easily. 

According to Desty, the company has more than 100,000 users. According to Mulyono, co-founder and CEO of Desty, the start-up firm currently focuses on serving online merchants and users in the ecosystem, making sure they can grow their business efficiently. Desty believes that this is key to economic growth in Indonesia.

During the pandemic, Indonesia experienced an 18.1% increase in online transaction volume to 98.3 million and recorded 12 million new e-commerce users. This explains why Desty noticed an exponential growth as well. 

Moreover, other than Desty Page and Desty Store, Desty also established Desty Academy which provides users a channel of information and training resources to help them grow their business with. Mulyono also stated that as an e-commerce solution company and social commerce enabler, Desty is committed to providing the lowest cost and most efficient way to support online merchants.

Correction:

Previous title mentions Desty receives Rp458 billion funding. The correct number is Rp45.8 billion.

According to Desty, the company has more than 100,000 users