Retail management software producer Warung Pintar has acquired Bizzy, the Indonesia-based operator of an online supply chain platform, in a $45m deal providing an exit for conglomerate Sinar Mas, DealStreetAsia has reported.
Founded in 2015, Bizzy operates an online platform offering business customers a digital procurement marketplace as well as logistics and distribution services. The two companies will have a combined customer base of 600 brands and 230,000 retailers across Indonesia.
Agung Bezharie, co-founder and chief executive of Warung Pintar, said the acquisition would enable the company to guarantee product reliability, availability and fair pricing by working directly with distributors.
Bizzy has raised a total of $12m in funding that included an $8m pre-series B round led by Sinar Mas subsidiary Sinar Mas Digital Ventures in 2018. It had already secured $2.5m from Ardent Capital in 2015, and its other backers included fellow VC firms East Ventures and Maloekoe Ventures.