Mainly delivering home delivery within one hour, Indonesian grocery app HappyFresh has received US$65 million in Series D financing

During the epidemic, the number of users of the platform increased by 10 to 20 times

According to foreign media TechCrunch , Indonesian grocery app HappyFresh has received $65 million in Series D financing. This round of financing was led by Naver Financial Corporation and Gafina BV. STIC, Mirae Asset, Mirae-Asset Naver Asia Growth Fund and Z Venture Capital also participated in the investment. The company’s last round of financing was the $20 million Series C financing announced in April 2019. 

HappyFresh in 2014 in India, Indonesia , a sub- stand, it is the first in Southeast Asia to launch the Instacart style grocery delivery service. Currently, the company has carried out operational services in Indonesia, Malaysia and Thailand. HappyFresh’s delivery goal is to complete same-day and one-hour grocery delivery for users. Its main partners are supermarkets and various retail stores. The company has publicly stated that it has “experienced unprecedented growth” in the past 18 months, as users have turned to grocery delivery during the new crown epidemic, and traffic in its three countries has increased by 10 to 20 times. 

HappyFresh CEO Guil lem Segarra said in a statement earlier: “We have seen a huge change in customer behavior starting in March 2020: user retention and purchase frequency have increased significantly, while the overall shopping basket size It has also continued to grow. We attribute this to a major shift in user habits from offline to online, and this shift will continue.” 

Mainly delivering home delivery within one hour, Indonesian grocery app HappyFresh has received US million in Series D financing

Source: Enterprise’s official website

Today, the service is very active in Indonesia, Thailand and Malaysia. It works with supermarkets and other retailers to allow customers to order groceries online. “HappyFresh” employees provide same-day delivery service. The target time window is 1 hour. Orders are completed through the website and mobile applications. At the same time, the platform will also have personalized recommendation services based on users’ purchasing habits, and will continue to improve logistics efficiency.

Currently, HappyFresh has three profit models: First, the platform charges users a small delivery fee, depending on each region. For example, in Bangkok, the charging standard is 60 baht/kg, which is about 2 US dollars/kg. Second, the platform will collect commissions from cooperative retailers who sell products on the company’s platform. Finally, it benefits from its own data analysis service HappyData: retailers can choose to publish advertisements, promotions and sponsorships on HappyFresh at their own expense based on the analysis results of this service. It is reported that HappyFresh is currently in a profitable state. 

“Our vision has always been to enter every family in Southeast Asia and democratize grocery delivery.” CEO Segarra once described HappyFresh’s business goals as follows: “I believe that in the next five years, the grocery industry will change more than in the past. In 50 years, this was driven by data and e-commerce.” 

It is reported that this round of financing will be used to expand HappyFresh’s operating scale, including increasing its driver fleet. The company also plans to add more payment methods, improve user experience, and increase the variety of its items.

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