Baskit raises $4.4m first close
Indonesian supply‑chain startup Baskit closed the first tranche of its Series A, raising $4.4m in a round led by Cento Ventures. The funding is earmarked to support expansion into the Philippines and to scale its distribution‑enablement services. (x.com/DealStreetAsia/status/2044246615880298735)
Baskit has raised $4.4 million in the first close of its Series A and is using the money to enter the Philippines later this year. (dealstreetasia.com) Cento Ventures led the round, with Kaya Founders, Analog Ventures, and Orvel Ventures joining in. Baskit also secured a separate $3 million revolving credit facility from HSBC Innovation Banking. (dealstreetasia.com) The company said the new round brings its total equity funding to $9.9 million after pre-seed and seed rounds in 2023. Chief executive Yann Schuermans told DealStreetAsia the Philippines will be Baskit’s first market outside Indonesia in the second half of 2026. (dealstreetasia.com) Baskit sells software and financing tools for the part of retail that still runs through distributors, wholesalers, and neighborhood stores instead of direct online sales. Its platform combines order and inventory software, payment rails, and credit for inventory purchases. (baskit.app 1) (baskit.app 2) That pitch is aimed at a market where offline trade still dominates. Baskit said more than 90% of trade in Southeast Asia still flows through offline channels, even after years of e-commerce growth. (technode.global) In Indonesia, Baskit says it works with more than 60 brands and retail partners, including Alfamart, Circle K, and Boots. On its own site, the company says it supports 100-plus distributors, reaches more than 200,000 stores, and powers 450 billion rupiah in monthly sales. (dealstreetasia.com) (baskit.app) The financing piece is central to the model. Baskit’s cash-flow product pays brands upfront on day one while distributors repay the bank 50 to 60 days later, giving buyers more time to move inventory without starving suppliers of cash. (baskit.app) (dealstreetasia.com) Schuermans said Baskit is not trying to replace distributors by owning inventory itself. He said the company’s model is to connect existing logistics firms, distributors, and retailers, then layer software and finance on top. (dealstreetasia.com) The Philippines gives Baskit another fragmented retail market to test that approach. The Department of Trade and Industry has said sari-sari stores contribute an estimated 1.12 trillion to 1.46 trillion Philippine pesos a year, and projects the segment could reach 2.4 trillion pesos by 2030. (philstar.com) (businessmirror.com.ph) Baskit was founded in 2022 and says it started in Singapore before building out in Indonesia. The next test is whether the same mix of distribution software and working-capital credit travels across borders as easily as the company says its products do. (baskit.app) (techinasia.com)
