1982 backed Baskit raises US$4.4 mil series A led by Cento Ventures

• Targets expansion beyond Indonesia as offline distribution remains dominant in SEA
• Platform integrates logistics, data and embedded finance to scale fragmented supply chains

Baskit, a platform combining technology and financial services to digitise Southeast Asia’s offline distribution networks, has raised US$4.4 million (RM20 million) in a Series A round led by Cento Ventures, with participation from Kaya Founders, Analog Ventures (previously Forge Ventures) and Orvel Ventures.

The round follows Baskit’s earlier US$5.5 million (RM25 million) pre-seed and seed rounds in 2023, bringing total equity raised to US$10 million (RM45 million). The company also secured a US$3 million (RM14 million) revolving credit facility from HSBC Innovation Banking.

The funding will support Baskit’s expansion across Indonesia and its entry into the Philippines, its first market beyond Indonesia.

Baskit operates a platform that helps brands manage and scale offline distribution by coordinating distributors, wholesalers and retailers while embedding financial services such as credit and payments across the supply chain.

“The partnership with Cento Ventures reflects our focus on building embedded financial services across supply chains,” said Yann Schuermans, CEO and co-founder of Baskit.

While e-commerce continues to grow in Southeast Asia, more than 90% of trade still flows through offline channels, making distribution complex and resource-intensive for brands.

Since launching commercially, Baskit has built a network in Indonesia, working with more than 60 brands and hundreds of distributors and wholesalers across multiple categories. It supports both general trade and modern retail channels, including retailers such as Alfamart, Circle K and Boots.

A key component of its model is embedded financing, enabling distributors to access inventory financing while improving liquidity across the supply chain. Baskit works with financial institutions such as HSBC and networks like Visa to support payments and treasury solutions.

Yuan Lee Chung, partner at Cento Ventures, said Baskit’s strength lies in its ability to operate within complex offline distribution environments while building the foundation for scalable financial services.

“We are proud to support high-growth companies like Baskit with tailored financing solutions as they scale across Southeast Asia,” said Neil Falconer, head of innovation banking at HSBC Singapore.

The new capital will support Baskit’s continued expansion across Indonesia, accelerate the development of its product and financial services capabilities, and support its regional growth across Southeast Asia.

Over the past several years, the company has developed a multi-category, multi-channel platform integrating operations, technology and financial services into a single ecosystem. Baskit claims to have achieved profitability over the past 1.5 years.

With the new funding, Baskit plans to deepen its presence in Indonesia while expanding regionally, beginning with the Philippines.

“Indonesia is our stronghold, and the Philippines is our next chapter,” said Schuermans.