Ula is a marketplace platform that focusses on modernizing distribution and credit processes in the traditional retail sector.
Ula brings the best of selection, prices and payment credit to small and medium sized retailers across categories such as FMCG, staples, apparel, and more.
Ula was co-founded in 2019 by Derry Sakti, Riky Tenggara, Nipun Mehra and Alan Wong. The company is headquartered in Jakarta, Jakarta, Indonesia.
Ula operates a wholesale e-commerce marketplace to help store owners stock only the inventory they need, and also grants them with working capital. It empowers stores with technology to provide the best sourcing prices, wide product assortment and flexible payments.
Ula has raised $10.5M in a Seed round of funding on June 10, 2020. The investment was led by Sequoia India and Lightspeed India. SMDV, Quona Capital, Saison Capital, Alter Global and a clutch of prominent angels, including the whole founding team of Bangalore-headquartered business-to-business marketplace Udaan, participated in the round.