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| Source: Jualo. |
Jualo, the Indonesia-focused marketplace business, has secured an undisclosed amount in seed funding from Mountain Kejora and Alpha JWC Ventures. An early-stage business-builder and Chaim Fetter, the founder of Jualo, participated in the initial startup financing.
Since launching in 2014, Jualo has signed up hundreds of thousands of users and facilitated over US$100 million in transactions over recent months. The seed funds will be used to expand Jualo’s team, accelerate the product development and market its platform in Indonesia.
With over 250 million people, 100 million Internet users, of which only an estimated 5% are actively using marketplace platforms and a flourishing market for second-hand goods, Indonesia offers a fertile breeding ground for marketplace businesses with a core focus on used goods, Jualo believes. The company has a hybrid business model that is between a classic e-classifieds business and a marketplace platform, and believes that it can take on OLX.
With over 250 million people, 100 million Internet users, of which only an estimated 5% are actively using marketplace platforms and a flourishing market for second-hand goods, Indonesia offers a fertile breeding ground for marketplace businesses with a core focus on used goods, Jualo believes. The company has a hybrid business model that is between a classic e-classifieds business and a marketplace platform, and believes that it can take on OLX.
"By working hard, being obsessed with the business and use our deep understanding of the Indonesian consumer, we will become the platform of choice for people who wish to trade their second hand goods,” said Fetter.
Mountain Kejora’s Ventures Founder Sebastian Togelang said of the Jualo team, "They really understand how to match an e-classifieds business model with the specific demands of the Indonesian consumer. We strongly believe that Jualo will play a key role in this market segment, and will take on the position as market leader soon.”
Chandra Tjan, one of the co-founders at Alpha JWC Ventures added: “The second-hand online marketplace has tremendous potential. We believe Chaim and the Jualo team really understand the market and took the right approach to tackle the key market issues in order to become the winner in this space.”
Chandra Tjan, one of the co-founders at Alpha JWC Ventures added: “The second-hand online marketplace has tremendous potential. We believe Chaim and the Jualo team really understand the market and took the right approach to tackle the key market issues in order to become the winner in this space.”
Read the WorkSmart Asia blog post on Jualo's business model
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