Indonesian fintech Orderfaz raises pre-seed round from 1982 Ventures

• Developed for Indonesia’s unique social-centric online market
• Indonesian social commerce market expected to reach US$90bil by 2028

Orderfaz, an Indonesian fintech startup for social commerce sellers, today announced the completion of an undisclosed pre-seed financing by 1982 Ventures. 

“Building off one of the world’s most digitally-connected populations, social commerce adoption has exploded in Indonesia, with sellers setting up shop across all major social media channels and using WhatsApp as a primary tool to make transactions. While we’ve seen others trying to tackle Indonesia’s social commerce space, Orderfaz is doing something different in the market,” said Scott Krivokopich (pic left), Managing Partner at 1982 Ventures.    

Orderfaz plans to hire more staff across all functions with this financing round to further platform development and market expansion. It also plans to develop an omnichannel marketplace to manage orders across Orderfaz and third-party e-commerce platforms, including Shopee, Tokopedia, and TikTok. Additionally, Orderfaz will develop a customer loyalty program to reward buyers.

“Indonesia’s social commerce segment has demonstrated remarkable growth but has experienced bottlenecks with a limited number of sales channels available in the country, which are primarily retail and e-commerce,” said Reynaldi Gandawidjaja (pic right), CEO of Orderfaz.

He added that Orderfaz was created to provide new avenues for sellers and act as a one-stop shop for social commerce businesses to boost revenue, improve operations, and achieve efficient conversion rates. 

Launched in March 2023, Orderfaz is built to cater for Indonesia’s WhatsApp-centric online market. It has developed a Smart WhatsApp Keyboard sellers use to close deals, helps sellers review order lists, send invoices, and share product checkout links with buyers, all on the WhatsApp interface. 

Orderfaz also has a browser plug-in that introduces a One-Click Checkout purchasing process where sellers can track buyer purchase history and reduce fraud risk by tracking the history of each authenticated buyer. 

Furthermore, Orderfaz also offers community and training for brand owners to network and connect, share best practices, and improve their digital sales and marketing skills. It has signed up over 600 sellers in the first two months after launch and expects to double its user base over the next month. 

In addition to Reynaldi, Orderfaz is led by seasoned entrepreneurs and co-founders Mohamad Iqbal (Chief Commercial Officer) and Jessica Alvina (Chief Product Officer), former senior executives at social commerce site Evermos. 

The management team previously founded companies Popaket (a digital logistics platform acquired by Evermos) and Bandros (SME drop shipping services).

According to press statements by Orderfaz and 1982 Ventures, the Indonesian social commerce market is expected to reach nearly US$90 billion (RM415 billion) by 2028. 80% of online merchants in Indonesia are selling through social commerce, and around 86% of Indonesian shoppers have used social media for online shopping with Indonesia's most popular social media shopping channels being TikTok, Instagram, and Facebook.