Startup: Tokban

Vertical: Proptech

Market: Indonesia

Fundraising: US$500,000 for the pre-seed round, which will be used for product, engineering and customer acquisition.

The lowdown: Why Accelerating Asia Invested

• Team: The Tokban team has the right mix of skill sets to succeed. They have a combined management experience of 70+ years with deep knowledge in construction material distribution, supply chain management, eCommerce and Fintech. With that domain expertise, Tokban has the commercial intuitions to address the challenges in the construction industry and effectively fill the efficiency gaps.

• Problem: The Indonesian construction supply industry is fragmented, high-friction and unstructured, leading to inefficiencies, high project costs, and supply chain management.

• Solution: Tokban solves these inefficiencies in the $100B+ industry through aggregation, optimisation and digitisation. With this solution, Tokban achieves quick turn-around on the order-to-delivery curve, price and quality transparency, more comprehensive options for its stakeholders and flexible payment terms.

• Traction: Since its launch in late 2021, Tokban has posted consistent growth across multiple metrics, all of which are on a steady upward trajectory. The platform now caters to 30+ recurring buyers with 100+ suppliers with a GMV of over US$900k. Additionally, Tokban’s platform receives 3.4K unique monthly visits and growing.

THE INDUSTRY

The Indonesian construction industry is currently valued at US$131.2B, and it has been growing at a rate of 11% annually. Similarly, new trends show that B2B e-Commerce transactions grew 3X this year. As a result, Indonesia will be the 4th largest construction economy globally by 2030.

However, this industry remains fragmented, high-friction and unstructured up to this day. This has led to inefficiency in supply chain management amongst the construction industry players.

The leading players on the supply side are; manufacturers, distributors and retailers. While on the demand side, there are the; contractors, retail stores and project owners.

SOLVING PAIN POINTS

Tokban is a construction material digital superhighway where all key players can streamline processes to achieve faster delivery, material transparency, better options, and business-friendly payment terms — all in a digitised one-stop-shop platform.

By aggregating key players and optimising the ordering process, Tokban provides value in more than one front, hitting key market pain points of inefficiency, enervated cost controls, and weak project and supply chain management.

SOUND REVENUE MODEL
The company has a straightforward revenue model generating healthy returns through supplier rebates leveraged on a consolidated buying power and a supply chain financing program. The model is designed to generate revenue at crucial transaction touchpoints to secure business sustainability.

ABILITY TO SCALE QUICKLY

Since the commercial viability of the offer has been validated, it is relatively easy to scale the operation upwards by onboarding more supply-side and demand-side users. To be at the forefront of this untapped tech segment, the future for Tokban remains bright.

Accelerating Asia VC Fund II invested into Tokban which was selected for Cohort 5 of our flagship 100 day program. During our last recruitment round Accelerating Asia received 550 applications from 30 countries and we have with 2000+ startups per year.

To invest in startups like Tokban alongside us and learn more about our portfolio, reach out and tell us a little bit about yourself here.

Disclaimer 

In making an investment decision, investors must rely on their own examination of startups and the terms of the investment including the merits and risks involved. Prospective investors should not construe this content as legal, tax, investment, financial or accounting advice.