“Orami’s value proposition will be further enhanced by Sirclo’s strong capabilities in e-commerce fulfillment, and technological infrastructure,” Sirclo founder and CEO Brian Marshal told KrASIA. He further said that Sirclo will be able to tap into Orami’s large and loyal customer base but declined to disclose financial details of the transaction.
Orami boasts more than 5 million monthly active users and has built a large community where young parents can find information and buy baby products. Sirclo offers e-commerce software solutions, such as a feature that creates online shops for small to medium-sized local businesses and a chat tool that is integrated into the WhatsApp Business API. The company says that in 2020, transactions surged fourfold, while it recorded a positive net operating income with a combined turnover of IDR 3.3 trillion (USD 227.5 million).
Both claim to have served together more than 100,000 brands, from SMEs to multinationals. Marshal said that brand owners will benefit from the more integrated features and services, so that they can reach more consumers through various channels and networks.
“Orami’s community is a critical part of the new combined entity,” he added. “The community will experience a variety of benefits through this acquisition, starting with a much wider range of products and social commerce features.”
Sirclo and Orami are both backed by Indonesian conglomerate Sinar Mas. Sirclo also counts East Ventures, OCBC NISP Ventura, and Skystar Capital among its investors, while Orami is backed by Gobi Partners, Ardent Capital, and Velos Partners.
Orami was reportedly in the process of raising USD 15 million last year. Marshal said the fundraising will continue through the combined entity, and that the firm has received commitments from various investors.