Indonesia-based B2B marketplace Ralali has raised a yet undisclosed amount of money from its series D round which was led by SBI Group and Bee Accelerate along with other venture capital firms like Beenos Asia, ICMG Partners, and Arbor Venture.
According to a statement released by Ralali, the company is still inviting opportunities for participation from strategic partners, which will include companies from the API, logistics, banking, and point-of-sale industry sectors.
VentureCap Insights data shows that Ralali has managed to raise USD 11 million last month which has boosted its valuation to in excess of $ 160 million. Ralali was founded by Joseph Aditya back in 2013, and this B2B company functions by connecting SMEs with suppliers through its marketplace. In 2021, Ralali said that it has over 1.5 million business owners on its independent platform.
Ever since it was launched, Ralali has managed to expand its business to private label, healthcare, as well as social commerce brands with an aim to reach 6 million customers by the end of 2022. Recently, Ralali also launched Ralali Agent which is an agent-based network. It also managed to acquire the healthy noodle brand Fitmee which was backed by East Ventures.
The company released a statement where it said that on its platform, the total transactions raised thrice the number as compared to the same time period of last year. This effectively means that Ralali has grown threefold in the space of one fiscal year.
Ralali will use this fresh funding to encourage and empower business owners and also provide more services for them to use.