Indonesian omnichannel-based point of sale (POS) platform iSeller has secured an investment of $12m in a Series B round, led by Intudo Ventures.
KVision (Kasikornbank), along with current investors Mandiri Capital Indonesia and Openspace Ventures, have also joined the fundraise.
iSeller, which serves both online and offline merchants, aims to use the latest investment to release a fresh version of its flagship products so as to update user experience, among others.
Merchants are also expected to receive new payment and marketplace integration for easier handling of their business.
As part of its future plan, the company seeks to achieve profitability over the next three years, according to iSeller.
To realise the plan, the firm intends to enhance its presence via strategic partners, acquisitions as well as raise customer lifetime value (CLTV) by offering improved merchant value-added services.
iSeller founder and CEO Jimmy Petrus said: “iSeller has experienced remarkable growth over the past few years, driven by immense demand by MSMEs and online businesses for omnichannel solutions from stock management and marketing, to payments and accounting—improving operations efficiency and facilitating business growth.
“In doing so, our solutions not only help businesses streamline day-to-day operations, but provide upside business growth for long-term success.
“We are grateful for the support of our new and existing investors, and look forward to building new products and services to help drive the digital transformation of Indonesia’s economy.”
Currently, iSeller offers a comprehensive tool for businesses to digitise their sales and operations, such as point of sale (POS) solutions, digital payments acceptance, inventory management, online stores and others.
The firm is said to have presence in 30 cities throughout Indonesia.