29 Jan '13, 6am

#Indonesian online retail store Saqina has raised funds from Ideosource to strengthen its #ecommerce business.

#Indonesian online retail store Saqina has raised funds from Ideosource to strengthen its #ecommerce business.

Indonesian online retail store Saqina has raised funds from Ideosource to strengthen its e-commerce business. Following the recent investment into Gimmie , Ideosource has closed another lucrative deal, this time with Saqina , an e-commerce player selling Muslim apparel and fashion clothing. No terms and sums were disclosed, but like any similar deals, the VC firm will sit as minority shareholder and entitled to place their representative in the board of Ideosource. Mohammad Rosihan founded his business 10 years ago, and decided to venture into an online store by 2008. Rosihan’s background in IT has helped Saqina gain traction in the e-commerce space. However, he realized that the eight physical outlets he owns only contribute 35% of total revenue, while his online store accounts for the rest. The Jombang-born entrepreneur decided to loan the money from a bank and started t...

Full article: http://e27.sg/2013/01/29/e-retailer-saqina-raises-funds-f...

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