Singapore – Desty, an Indonesian e-commerce startup, has raised a new funding to develop its full stack e-commerce merchant solutions platform. The funding is led by Square Peg, in addition to funds raised from a Pan-Asia investor base last year, including East Ventures, Jungle Ventures, 5Y Capital and other prominent angel investors in the region.
Desty plans to leverage its new funding to further product optimisation, team expansion and user acquisition.
Desty provides a suite of digital tools that helps merchants, from online sellers to F&B establishments to operate their businesses through a unified platform. Over the past year, Desty has enhanced its multiple merchant enablement tools and proprietary tech infrastructure to offer a full stack e-commerce use case across link-in-bio (desty.page), an online store builder (desty.store), a digital ordering menu (desty.menu) and an omnichannel dashboard (desty.omni).
Mulyono Xu, co-founder and CEO at Desty, said, “We are very delighted to have Square Peg supporting us with their extensive experience investing in comparable business models across the globe. Indonesia has a very unique digital economy with notable fragmentation across merchant traffic, sales channels, payments and logistics. We strongly believe that our full stack approach to empowering merchants with our suite of enablement tools will solve their pain points most effectively.”
Meanwhile, Piruze Sabuncu, partner at Square Peg, commented, “We wanted to partner with Desty, not only because of the traction and customer love we’ve seen so far, but also because of the technical and go-to-market talent Mulyono and Bill were able to bring together. Mulyono and Bill are bringing in years of industry expertise and best practices that will help unlock economic opportunities for millions of small businesses in Indonesia and the rest of Southeast Asia.”
He added, “We are excited to partner with the Desty team on its mission to bring merchants online, and help them operate seamlessly across Indonesia’s increasingly crowded e-commerce space.”