Super Raises $70M Series C Financing
Gunderson Dettmer represented client Super, an Indonesia-based social commerce platform, in its $70 million Series C financing led by New Enterprise Associates, with participation by Insignia Ventures Partners, SoftBank Ventures Asia, DST Global Partners, Amasia, B Capital, TNB Aura, the Chairman of Bain Capital Stephen Pagliuca, the Former General Partner of Kleiner Perkins Eric Feng’s Goldhouse, and Xendit CEO Moses Lo. This oversubscribed round came 16 months after Super raised its Series B financing.
Super, which is the first consumer technology company in Indonesia backed by Y Combinator, serves tier-2 and tier-3 cities as well as rural areas in Indonesia. The company plans to use the new capital to expand into Kalimantan, Bali, West Nusa Tenggara, East Nusa Tenggara, Maluku, and Papua over the next few years.
In the announcement of the transaction, CEO and co-founder at Super Steven Wongsoredjo said, “We will help more multinational, and provincial FMCG suppliers tap into new markets in rural areas and empower more community leaders to optimize their income and have a better quality of life.”
The Gunderson deal team was led by Jolyn Ang and included Kinnari Sahita, Cheryl Lau and Lim Jun Heng.