Monk’s Hill Ventures Leads $11.5M Series A Financing of Dagangan
Gunderson Dettmer represented client Monk’s Hill Ventures, a venture capital firm investing in early-stage Southeast Asia tech companies, as it led the $11.5 million Series A financing of Dagangan, an Indonesian social commerce platform. Dagangan plans to use the funds to grow its house brand of white-label products and expand its digital product features such as pay-later services, logistics pickup and delivery, talent acquisition and growing partnerships.
In the announcement of the transaction, Dagangan said, “Rural communities in Indonesia comprise 80 per cent of the population and are currently underserved. Dagangan’s group-buying model consolidates demand based on location and reduces the cost of supply chain by 95 per cent as compared to other supply chain suppliers in Indonesia.”
The Gunderson deal team was led by Jonathan Pentzien, and included Jolyn Ang, Soo Guo Kai, Kinnari Sahita and Cheryl Lau.
Monk's Hill Ventures