B2B Construction Marketplace Juragan Material Nets $4M in Seed Funding

Juragan Material, an Indonesian construction-focused platform, has raised $4 million in a seed round, Tech in Asia reported Monday (July 4).

The company operates a B2B marketplace that helps source building material from suppliers, providing customers with access to 180 brands and over 9,000 SKUs, according to the report.

Jurgan said it would use the new funding to bolster market penetration efforts, adding more capabilities for its product ecosystem and hiring additional staff for its product, engineering, sales and operations teams.

According to company CEO and co-founder Tito Putra, the company wants to help alleviate frustration from both contractors and suppliers as they work on getting materials and managing projects.

The funding round was supported by led by Go-Ventures, with additional funds from Susquehanna International Group.

There has been a glut of new growth in the Asian and African scenes for B2B FinTechs. Proxtera, for instance, is now working alongside several entities like the Monetary Authority of Singapore to roll out a new open financial education and action program for micro-, small- and medium-sized enterprises (MSMEs).

Read more: Proxtera Debuts Financial Education for MSMEs in Asia, Africa

The initiative aims to help businesses become more prosperous in the digital economy. The program, called the SME Financial Empowerment (SFE) program, will be offered on a digital portal and will help smaller businesses learn about cross-border services, helping them become more financially literate in the digital age.

Two courses will be offered, with the Foundational Financial Literacy option looking into basic concepts and the Global Financial Literacy program offering ways to connect digitally and expand around the world.

The program initially debuted June 14 with various market partners in Ghana, India, the Philippines and Singapore.

According to Proxtera CEO Saurav Bhattacharyya, the program “stays true to our mission of supporting MSMEs, by upskilling them to understand financial services and how best to tap into the digital marketplace effectively and globally.”