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Indonesian SaaS startup Sirclo merges with Icube, to address MSME market

The merger will bring together more than 450 employees.

Sirclo and Icube's founders in merger announcement. Photo courtesy of Sirclo.

Indonesian software-as-a-service (SaaS) startup Sirclo announced that it will merge with Icube, an agency providing e-commerce technology solutions that has served retail businesses for 20 years. Together, both companies will serve thousands of clients, aiming to support more micro, small, and medium enterprises (MSMEs), as well as large-scale brands in their e-commerce plans.

“As the leading e-commerce enabler in Indonesia, Sirclo wants to continue to provide the best services and solutions for brands to develop their business online,” said Sirclo CEO and founder Brian Marshal in a statement. “When we see the potential to merge with Icube, we are increasingly confident that we can carry out this mission on a larger and more comprehensive scale through the combined strengths of the two companies.”

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The merger will bring together more than 450 employees. Icube will continue to operate as an independent entity, integrated with the services offered by Sirclo. Icube’s founder and managing director Muliadi Jeo will replace Leontius Adhika Pradhana as Sirclo’s chief technology officer and Pradhana will take a new position as chief product officer.

The role of e-commerce has become increasingly important and relevant in the midst of the COVID-19 outbreak, where more businesses and consumers rely on online platforms for buying and selling. The presence of integrated and reliable e-commerce technology and solutions becomes critical for business owners and brands. Sirclo saw this as an opportunity to accelerate its business growth, the company said.

Amplifying strengths

Sirclo has always been focused on big brands and MSMEs, while Icube caters to medium-scale businesses looking for a website and enterprise solutions. With the merger, the two companies intend to amplify their strengths to serve brand and business owners from various stages.

“Icube is dedicated to making e-commerce more accessible for retailers using Magento technology, an open source e-commerce platform that can help online business owners run sales operations as needed,” said Jeo. “After 20 years, we want to accommodate more clients from various types of businesses with the services we offer. Sirclo is the right and strategic partner in achieving these goals.”

Founded in 2013, Sirclo has helped more than 1,000 clients and brands to develop their business online. Its clients include fashion brand “This Is April,” Unilever, Reckitt Benckiser, Beiersdorf, L’Oréal, Eigerindo, and Levi’s. Meanwhile, Icube has provided e-commerce systems to Krisbow, Hush Puppies, L’Occitane, Elemis, Venchi, Erha Store, Nutrimart, Royal Canin, Mitra10, and Lotte Mart.