Softbank Funds Super, Bringing Bright Prospects for Social Commerce

By Editorial Team 30/04/2021
e-commerce
Summary

Social commerce platform Super announced US$28 million in Series B funding led by Softbank Ventures Asia. On April 29, 2021, Tech Crunch reported the company's long-time investors that participated in this funding round were Amasia, Insignia Ventures Partners, Y Combinator Continuity Fund, and Stephen Pagliuca (Co-Chairman of Bain Capital). Meanwhile, the new investors are Partners from DST Global and TNB Aura.

Super Co-Founder Steven Wongsoredjo said the company would use the funds to increase business activities in East Java as its market base and expand to other provinces in eastern Indonesia. Super will also expand its product range and develop a white label brand called SuperEats. Partner of Softbank Ventures Asia Cindy Jim said that the social commerce trend is increasing globally. "We believe that hyperlocal teams like Super are at the forefront of capturing the momentum of social commerce in Indonesia's remote areas," he said.

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