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Social Bella to Improve Tech Infrastructure with $58M Series E Funding

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Social Bella is expected to see growth of $8.5 billion by 2022.

Social Bella has received $58 million from existing investors Temasek, Pavilion Capital and Jungle Ventures in a series E funding round, according to an article on Tech in Asia. The funds will be used to improve the company’s tech infrastructure and support its growth in the Indonesian beauty and personal care markets, which boasts an estimated growth of $8.5 billion by 2022.

The e-commerce platform launched a flagship store last year and currently as six stores across Indonesia, according to the article. Social Bella also provides beauty and personal care manufacturers with an end-to-end distributor service.