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Startups

Indonesia's Muslim commerce platform secures $8.2m funding

Evermos connects halal and sharia-compliant brands with resellers and customers

With Indonesia's large Muslim population, there is high demand for halal and sharia-compliant products. REUTERS/Willy Kurniawan   © Reuters

JAKARTA -- Evermos, an Indonesian social commerce platform that offers halal and sharia-compliant products aimed at Muslim customers, has secured $8.25 million in a series A funding round from investors including Jungle Ventures, Shunwei Capital and Alpha JWC Ventures.

The platform connects local Islam-oriented brands with resellers and customers across Indonesia. According to an official statement, Evermos plans to use the fresh capital to develop more collaborations with local brands and organizations, as well as to provide additional support to its online network of resellers.

Founded in November 2018, Evermos allows people to share links to their stock via social media and messaging accounts, enabling them to own and operate an online business without stumping up large amounts of capital. Evermos offers halal products in various verticals including fashion, food and beauty. The platform now has a network of 20,000 resellers throughout the country marketing thousands of local products.

The name Evermos is an amalgam of keywords from the company's tagline, "Everyday Needs for Every Moslem." According to co-founder and CEO Iqbal Muslimin, Evermos wants to respond to the high demand for halal products in the country while empowering those who need extra income. The platform can thus be an economic driver for the Muslim community.

"The Indonesian government has been showing support to accelerate the sharia economy by providing supportive regulations and we are keen to support that with our technology ecosystem," Muslimin said in the statement.

He also believes that given the size of Indonesia's Muslim population, the sharia economy will have a major positive impact on society. In the future, Evermos wants to tap other opportunities in this segment, such as halal travel and sharia-compliant fintech.

The Muslim-friendly marketplace is a key sector in the Indonesian e-commerce ecosystem. The country's biggest e-commerce platform, Tokopedia, recently launched a sharia-compliant retail service called Tokopedia Salam. Shortly after, its regional competitor Shopee launched a similar portal called Shopee Barokah.

KrASIA is a digital media company focused on technology-driven businesses and trends across the Asia-Pacific region. It is part of 36Kr, a tech news portal based in Beijing. Nikkei has a minority stake in 36Kr.

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