Golden Gate Ventures Invests Over US$6Million In 6 New South East Asian Companies

Coming off the heels of three recent investments (HipVan, Omise, and Laku6), Golden Gate Ventures the early-stage venture capital firm investing across Southeast Asia since 2011, has announced six additions to its portfolio, from Indonesia to Thailand.

These new investments continue Golden Gate Ventures’ record of investing in e-commerce, marketplaces, and mobile services, with a strong focus on the largest market in the region, Indonesia.

Claim Di (Thailand)

Claim Di is an award-winning mobile application for facilitating communication and claims between drivers and their insurance companies. Based in Thailand with founder and CEO Kittinan Anuphan at the helm, Claim Di has received seed funding from 500 Startups, Golden Gate Ventures, and various angel investors.

GoQuo (Malaysia)

GoQuo provides a full-service e-commerce solution to leading airlines and OTAs in creating a personalized and inspiring digital shopping experience. They assist their customers in becoming successful e-retailers, thereby increasing their ancillary revenue from non-air products. GoQuo was established in Kuala Lumpur, Malaysia by CEO Ron Ramanan in 2002.

Stamp (Thailand)

Stamp is a simple and intuitive device that provides secure multi-factor authentication in a seamless and uncomplicated user experience. Its Secure Touch hardware creates a digital fingerprint, enabling secure third-party authentication and verification directly through a capacitive touchscreen. With a presence in Thailand and Singapore under CEO Opas Lopansri, Stamp has received funding from investors including Golden Gate Ventures and Altpoint Ventures.

Alodokter (Indonesia)

Alodokter is an online health information portal serving the people of Indonesia. Founded by Nathanael Faibis, it has netted millions of visitors each month since its launch in July 2014. Alodokter has received seed funding from global investors including Fenox Venture Capital, 500 Startups, Lim Der Shing, and Golden Gate Ventures.

Ruma (Indonesia)

Ruma is a for-profit social enterprise based in Jakarta, Indonesia, with a mission to “increase dignity, income, and access for the poor through technology”. To do this, Ruma targets Indonesians living below the $2.50 per day poverty line, and helps them become entrepreneurs. At the start of 2015, Ruma received funding from Golden Gate Ventures, Unitus Impact, and Omidyar Network.

Indotrading (Indonesia)

Indotrading is Indonesia’s number one online B2B marketplace. It helps merchants gain an online presence by promotion on its site, or setting up e-commerce portals with customized domain names. Founded in 2012 by Handy Chang, it has raised seed and Series A funding from investors such as OPT SEA, Golden Gate Ventures, GMO Venture Partners, Convergence Ventures, Aucfan, and Rebright Partners.

Despite being a younger market than China or India, the startup scene in Indonesia shows great potential for a number of reasons, which Golden Gate Ventures is taking full advantage of.

As founding partner Jeffrey Paine puts it, “The timing is now. There’s a new government in place, and the GDP growth shows no signs of stopping any time soon. Indonesia is brimming with smart, hungry, and eager change-makers all over the country, not only in Jakarta.”

Golden Gate Ventures has invested in over 30 companies across more than 7 countries in Asia. To date, their portfolio has raised over USD$150M in the region. The firm invests in internet and mobile startups across many sectors, including e-commerce, payments, marketplaces, mobile applications, and SaaS platforms. With its regional footprint and existing portfolio, the firm aims to add value and assist startups to excel and expand from one country to another.


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