Social Commerce Startup Desty Secures Additional Fresh Funds

By Editorial Team 20/06/2022
e-commerce
Summary

Social commerce solutions startup Desty secured a new funding round led by Square Peg. The capital was additional funds obtained from various investors in the Pre-Series A round last year, including East Ventures, Jungle Ventures, 5Y Capital, and several other leading angel investors. "We firmly believe that our holistic approach to empowering merchants with our suite of enablement tools will solve their problems most effectively," Mulyono Xu, Co-Founder and CEO of Desty, said in an official statement Friday.

Mulyono also claims Desty is leading the Indonesian market and reaches nearly one million users with 33 times annual growth. Square Peg is a global technology investment company that manages over US$1 billion in funds and has actively invested more than US$200 million in Southeast Asia into companies such as PropertyGuru, FinAccel, Pluang, and Doctor Anywhere over the past few years. Square Peg is based in Australia and focuses on investing in startups in Australia, Israel, and Southeast Asia with a focus on Series A and Series B.

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