Social Bella, the Indonesia-based e-commerce company backed by fashion e-commerce brand iStyle, has raised $58m in series E funding, e27 reported yesterday, citing a company statement.
Singaporean state-owned investment firm Temasek and its growth equity subsidiary, Pavilion Capital, provided the capital together with venture capital firm Jungle Ventures. It brought the company’s overall funding to more than $110m.
Founded in 2015, Social Bella operates a range of e-commerce and media platforms focusing on beauty and personal care products for the Southeast Asian market. It was formerly known as Sociolla, which is still its largest brand.
In addition to Sociolla, the company owns online reviews platform Soco, lifestyle media site Beauty Journal and a recently launched e-commerce outlet called Lilla by Sociolla that is targeted at young mothers in Indonesia, in addition to six brick-and-mortar stores.
The series E participants had also backed Social Bella’s $40m series D round in September 2019, Temasek co-leading the round with EV Growth, the joint venture between conglomerate Sinar Mas, internet company Yahoo Japan and VC firm East Ventures.
The company had previously received $12m in a mid-2018 series C round led by EV Growth that included Japan-based iStyle and an unnamed institutional investor.
East Ventures and iStyle had previously supplied an undisclosed amount of series B funding for Social Bella in 2015, following a series A round of undisclosed size led by Venturra Capital and backed by East Ventures and Steve Christian earlier the same year.
Photo courtesy of PT. Social Bella Indonesia.
