Jualo Receives Series A Funding
Mountain Kejora portfolio company Jualo, Indonesia’s rapidly expanding marketplace for second-hand goods, has recently secured a multi-million-dollar Series A funding round. The fresh funds will help to expand the business, attract prime talent, increase customer satisfaction and help Jualo to become a key player within its sector.
Jualo was founded in 2014 by Chaim Fetter and friends and is based in Jakarta with a current team of 15 employees. Developing a wide range of novel products, the business has positioned itself as a hybrid with the functionality of a marketplace and the broad product choice of a classic e-classifieds platform. It offers a seamless mobile and desktop experience to buy and sell items with ease.
Since its launch, Jualo’s numbers have grown rapidly without significant marketing expenditure, reaching more than 2,000,000 monthly active users and displaying 500,000 active listings. The team has an in-depth understanding of the rapidly developing Indonesian market and blends cost-effective guerilla entrepreneurship with a lean operating approach.
Jualo has already become the second largest marketplace for second-hand goods in Indonesia and aims to use the new capital to build toward Indonesian market leadership over the next 18 months as well as expanding to additional regional markets.