Indonesian Social Commerce Firm Mapan Secures US$15 Million Series A
by Fintech News Indonesia June 29, 2022Indonesian social commerce startup Mapan announced it has closed a US$15 million Series A funding round.
The round was co-led by Patamar Capital and PT Astra Digital Internasional, a subsidiary of PT Astra International, with participation from BRI Ventures, SMDV, Blibli, Prasetia Dwidharma, and global venture capital firms Flourish Ventures and 500 Global.
With this fundraise, Mapan said that it will now look towards growing their core “Arisan” service through expanding their product range and partnering with suppliers.
An aspect of Indonesian culture, Arisan is a form of informal social gathering, where members will take turns to purchase products for the group.
Since 2015, Mapan has also focused on the empowerment of women leaders of Arisan groups, which are traditional women-run rotating savings groups, through the introduction of its Arisan application.
Through the recruitment of women leaders and influencers as agents and creators of Arisan groups, Mapan has provided affordable goods financing to more than three million households to-date.
Women influencers and leaders of Mapan’s Arisan groups will also receive additional benefits, such as commission from product sales, incentives for recruiting and educating new agents, and other performance milestones, thereby bringing financial equality to women from low-income families in Indonesia.
Mapan currently operates in Java, Bali, Sumatera, Nusa Tenggara, and Sulawesi, and plans to expand its operations across the rest of Indonesia.
On the sidelines of this fundraise, the firm recently announced the appointment of Ardelia Apti as its Chief Executive Officer.
Ardelia Apti
“In Indonesia, women play a key role in managing their family’s finances, and Arisan is the manifestation of this process. We are honoured that through the Mapan Arisan product, they have been empowered to help their communities improve their ability to purchase household goods, thus boosting their quality of life.
We are committed to continue to work closely with them to evolve our solutions that provide life-changing financial access at scale,”
said Ardelia Apti, Mapan’s newly appointed CEO.
Aldi Haryopratomo
Aldi Haryopratomo, Founder and Board of Commissioner member at Mapan commented,
“With this new fundraising round from a strong base of both Indonesian and global investors, we are excited by the new phase that is now ushered in.
This represents support for Ardelia’s vision of building a community of women to ensure that Indonesian families become financially self-sufficient, and we are excited to further drive this forward.”
