Sirclo received an undisclosed investment from East Ventures to build its platform for building online marketplaces
Brick and mortar businesses seem to be a thing of the past as marketplaces are moving online. With just a few clicks, any entrepreneur can now open a shop, leading to a huge rise in companies that help build online marketplaces. Companies like Wix.com are raising hundreds of millions of dollars and many other companies are popping into the arena.
Just recently, a Jakarta-based e-commerce platform got off the ground with an angel investment from East Ventures. Sirclo, on Thursday, March 28, announced that it received an undisclosed amount of financing to build its business in Indonesia and Singapore.
Sirclo was founded by Brian Marshal, Aditya Goenawan and Fajar Firdaus between March and May 2013. The initial version of the website launched in September and since then it has grown to 200 paying customers. (All customers are offered a free month subscription, so Sirclo may have others testing out its platform.)
Sirclo offers templates, supports different payment methods and provides users with analytics of their visitors. Most of its clients seem to be clothing and jewelry retailers.
East Ventures is an early stage investment fund that offers a 100-day startup incubation program. The VC firm was formed in July 2011 and focuses on web and mobile startups. Since its founding it has invested in 20 startups in Indonesia, and also invests in startups in Singapore and Japan.