Orderfaz Completes Pre-seed Funding Round by 1982 Ventures

On July 14, Orderfaz, an Indonesian fintech startup for social commerce sellers, announced the completion of a pre-seed round of funding led by 1982 Ventures.

In a statement, Orderfaz stated that with this round of funding, the company intends to bring on new hires across all functions to drive platform development and market expansion.

According to the statement, the company intends to build an omnichannel marketplace to manage orders across Orderfaz and third-party e-commerce platforms such as Shopee, Tokopedia, and TikTok. Orderfaz will also create a customer loyalty programme to reward loyal customers.

"Indonesia's social commerce segment has shown remarkable growth, but has encountered bottlenecks due to the country's limited number of sales channels, which are primarily retail and e-commerce."

"We set out to create Orderfaz to provide new avenues for sellers and act as a one-stop shop for social commerce businesses to boost revenue, improve operations, and achieve efficient conversion rates," said Orderfaz CEO Reynaldi Gandwidjaja.

The Indonesian social commerce market is expected to reach nearly $90 billion by 2028, according to the statement.

In Indonesia, 80 percent of online merchants sell via social commerce, and approximately 86 percent of Indonesian shoppers use social media for online shopping.