Will Cosmart's Membership Business Model End Quick Commerce Boom?

Summary

E-commerce startup Cosmart announced seed funding of US$5 million or more than Rp 75 billion from Lightspeed, East Ventures, and Vertex Ventures Southeast Asia & Asia, followed by angel investors Henry Hendrawan and Albert Lucius. Cosmart claims to be the first e-commerce in Indonesia with a subscription business model.

Cosmart positions itself as a one-stop solution e-grocery for consumers who want to buy groceries. By paying a membership fee, customers are guaranteed to get products at lower prices, and new products that are not available on other e-commerce platforms, and users can try sample products from new brands.

Cosmart's ambition is to provide an easy and inexpensive routine shopping experience so customers can save costs and time. This initial funding will strengthen technology and infrastructure and build strong teams and partnerships with principals and key players in the supply chain ecosystem.

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