Fabelio announced that it’s just sealed $500.000 (around Rp 6,6 billion) of funding from a group of investors led by 500 Startups. In this round, KK Fund, IMJ Investment Partners and two angel investors, Sandeep Tandon (Freecharge’s Co-Founder) and Roshni Mahtani (Tickled Media’s Founder) also joined the rank. The secured money will then be used to strangthen th eteam, invest in marketing, and enhance the customer service.
Fabelio, which operates in furniture marketplace, was founded by people who’re no stranger to the industry. In fact, names like Krishnan Menon, Christian Sutardi, Marshall Utoyo, and Srinivas Sista have been there for years. Prior holding the position of Fabelio’s CEO, Krishnan Menon has made his own fortune at Freecharge, Lazada Indonesia, and Zalora Southeast Asia.
This startup, that puts bridging designers and consumers as its main vision, attempts to provide high quality yet affordable furnitures. Fabelio will handle the production and distribution, while designers are allowed to display and offer their designs on the website.
“We believe that everyone in Indonesia, the haves and have not, possesses the right to live at a beautiful house. We bring high quality design at huge rate. This mission gibes us daily encouragement,” said Menon.
“We also highly believe to build our business around communities. We aim to invite communities of interior designers to join us, involve them, and encourage them to be our main contributors, whom will be selected by our in-house designer,” he added.
When being asked about how they’re gonna use the funding, Fabelio’s Co-Founder Christian Sutardi told DailySocial that the money will go to team strengthening, investment in marketing, both online and offline, and customer service enhancement.
Fabelio which was launched in June 2015 currently owns more than 350 SKUs and plans on offering more than 2000 products by the end of this year. At the moment, the platform is also working on expanding its business to other markets like Singapore, Thailand, and Australia.
