FLIK, an Indonesian FinTech platform that offers a unified checkout solution, has reportedly secured $1.1m in its pre-seed funding round.
The investment was led by East Ventures, according to a report from East Ventures is a sector-agnostic venture capital firm that has backed over 250 tech companies in Southeast Asia.
Other commitments to the round came from Init-6, GMO VenturePartners and Saison Capital.
FLIK provides companies with a frictionless checkout system. For shoppers, the platform serves as an all-in-one account for all e-commerce, removing the need to manage separate accounts. It boasts that customers can complete a purchase with a one-click checkout on sites they have never shopped at before.
Its platform also allows users to manage products from any merchant in a single cart, and they can track all their orders from a single location, including managing personal preferences for payments, addresses and shipping.
As for businesses, FLIK allows users to manage the whole payment lifecycle, including acceptance, reconciliation and settlement of funds. It also provides insights to help track money, sales and shoppers.
Speaking on the funding round, FLIK co-founder and CEO Ahmad Gadi said, “We’re glad to have the support of East Ventures and its large ecosystem. FLIK is here to help brands enhance their direct-to-consumer (D2C) transactions by unifying the checkout experience across different sales channels.
“We believe our solutions will solve the pain points experienced by shoppers in completing e-commerce transactions across different channels, further empowering brands and content creators to scale.”
Last week, Singaporean venture capital firm Northstar Group held the first close for a new fund that is aimed at companies in Indonesia. The vehicle has hit $90m for its first close but anticipates hitting a second close of $120m in the coming months.
Indonesia’s FinTech sector has had a strong two years. In the first nine months of 2022, a total of $2.1bn was raised through 66 deals, according to data by FinTech Global. This figure was higher than the total funding levels of 2021, which saw $1.6bn deployed through 97 deals.
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