Ever heard of Ula? Well the Indonesian B2B marketplace should be on a lot more radars following a recently successful Series B funding round of $87 million. This as former Amazon head Jeff Bezos is listed as one of its notable investors.

Initially reported by TechCrunch and since confirmed by Ula in a press statement, Bezos joins the likes of Prosus Ventures, Tencent and B-Capital also involved in the latest round.

The latest fundraising, which comes eight months after its Series A round in January, will be used to invest in growing Ula’s presence across Indonesia and exploring international expansion across Southeast Asia, the statement noted.

Furthermore, the platform which currently has more than 70 000 store owners in Indonesia onboarded, will be looking to add new categories, expanding its Buy-Now-Pay-Later offering, as well as building new technologies and a local supply chain and logistics infrastructure.

“Ula’s team is laser-focused on revolutionising Indonesia’s retail supply chain and driving financial inclusion through combining modern retail technology with the low-cost, local structure of traditional retail. Taking a customer-first approach, the company has demonstrated robust growth while maintaining best in class metrics. We are excited about the impact they will have and to support them in their mission,” added Sachin Bhanot, head of Southeast Asia Investments at Prosus Ventures.

Looking closer at its recent rapid growth, the interest in the platform makes sense given that in just twenty months since launch and in the midst of a pandemic, it has grown by 230 times with 6 000 products and 70 000 stores.

As such, how it evolves following this latest funding round should prove interesting for all in the region.

[Image – Photo by ichsan wicaksono on Unsplash]