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FC Deals | August 2021
Favour Capital advises Dekoruma on US$15 million Series C1 funding
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Dekoruma, Indonesia’s largest home & living platform closes $15 Million in Series C1 Funding. Key investors in this round include Nexter Ventures by SCG Cement-Building Materials, KTB Network, and joined by existing shareholders: GDN, OCBC NISP Ventura, and Foundamental.
Favour Capital, a China and Southeast Asia-focused TMT boutique investment bank acted as the financial advisor for this round.
Favour Capital, a China and Southeast Asia-focused TMT boutique investment bank acted as the financial advisor for this round.
Starting as a furniture marketplace in 2016, Dekoruma has expanded its businesses to serve the burgeoning middle class by creating a full-stack ecosystem connecting home furnishing merchants, interior designers, contractors, and property developers.
To date, Dekoruma has served more than a million customers, partnering with more than 5,000+ designers and contractors, and almost all tier 1 and tier 2 property developers in Indonesia. Dekoruma’s revenue has tripled and all business units have been operating at CM3 positive for the past 18 months. Dekoruma is expected to hit EBITDA positive by the end of 2022.
“The product and ecosystem that we have built have eliminated inefficiencies that plague the industry. It translates to more affordable products and hyper-transparent services that our customers and partners delight in. We will scale up by expanding our business beyond Jakarta and partnering with more partners and property developers,” said Dimas Harry Priawan, CEO and Co-founder of Dekoruma.
“Dekoruma is one of the few companies globally that has successfully integrated the end-to-end complex home & living supply chain. We are thrilled to support them in revolutionizing the home buying process,” said Mr. Jirapat Janjerdsak, Director of Nexter Ventures by SCG Cement-Building Materials.
“It is an exciting time for Indonesia’s technological landscape. Dekoruma has leveraged their strong technological capabilities to forge a powerful platform connecting users with businesses in Indonesia’s home living space. We are impressed by the team’s strong execution coupled with the ability to consistently generate new value creation opportunities,” concluded Chihoon Hyun, KTB Network’s Managing Director.
" We decided to work alongside Dekoruma because we believe that they have the right solution for the very fragmented home and living market in Indonesia. Aside from providing solutions for the end-consumers, Dekoruma also serves independent interior designers, contractors, as well as property developers. We believe Dekoruma can tap into this huge market opportunity especially with support from the strong management team." shared Eric Fang, Founding Partner of Favour Capital.
To date, Dekoruma has served more than a million customers, partnering with more than 5,000+ designers and contractors, and almost all tier 1 and tier 2 property developers in Indonesia. Dekoruma’s revenue has tripled and all business units have been operating at CM3 positive for the past 18 months. Dekoruma is expected to hit EBITDA positive by the end of 2022.
“The product and ecosystem that we have built have eliminated inefficiencies that plague the industry. It translates to more affordable products and hyper-transparent services that our customers and partners delight in. We will scale up by expanding our business beyond Jakarta and partnering with more partners and property developers,” said Dimas Harry Priawan, CEO and Co-founder of Dekoruma.
“Dekoruma is one of the few companies globally that has successfully integrated the end-to-end complex home & living supply chain. We are thrilled to support them in revolutionizing the home buying process,” said Mr. Jirapat Janjerdsak, Director of Nexter Ventures by SCG Cement-Building Materials.
“It is an exciting time for Indonesia’s technological landscape. Dekoruma has leveraged their strong technological capabilities to forge a powerful platform connecting users with businesses in Indonesia’s home living space. We are impressed by the team’s strong execution coupled with the ability to consistently generate new value creation opportunities,” concluded Chihoon Hyun, KTB Network’s Managing Director.
" We decided to work alongside Dekoruma because we believe that they have the right solution for the very fragmented home and living market in Indonesia. Aside from providing solutions for the end-consumers, Dekoruma also serves independent interior designers, contractors, as well as property developers. We believe Dekoruma can tap into this huge market opportunity especially with support from the strong management team." shared Eric Fang, Founding Partner of Favour Capital.
Article adapted from: https://www.dealstreetasia.com/stories/indonesia-dekoruma-series-c1-funding-257304