JAKARTA, INDONESIA - Media OutReach - 27 June 2023 - mandy, the leading e-commerce platform, is excited to announce the successful completion of a substantial USD 500 million financing round. Esteemed investors including Alibaba, Sequoia Capital, Temasek, and IDG have provided crucial support and expressed their confidence in mandy's accomplishments.

Since entering the Indonesian market, mandy has been dedicated to transforming and shaping the local e-commerce ecosystem. By optimizing the supply chain, empowering entrepreneurs, investing in robust logistics systems, and strengthening promotional efforts, mandy has continually enhanced the overall shopping experience.

With the new round of financing, mandy aims to establish a fully optimized supply chain, ensuring convenient access to the products consumers need. This investment will bolster supply chain technology, enabling the platform to meet demand swiftly and accurately, while improving forecasting and inventory management capabilities.

Recognizing the pivotal role of exceptional merchants in the e-commerce ecosystem, mandy is establishing a business support fund. Through this initiative, aspiring startups and small businesses will receive financial assistance, allowing them to transform their dreams into reality and participate in the dividends of e-commerce.

To ensure more individuals can enjoy the unparalleled shopping experience offered by mandy, the company will intensify advertising and promotion efforts. Utilizing a diverse range of channels, mandy will elevate brand awareness, acquainting every Indonesian with the name of mandy and the exceptional services provided.

Furthermore, mandy acknowledges that an outstanding e-commerce platform requires an efficient logistics system. In line with this understanding, the company plans to increase investments in logistics infrastructure. These investments will focus on improving distribution efficiency, enhancing the integrity and transparency of goods circulation, and expanding the reach of distribution services. mandy's overarching goal is to empower consumers to enjoy the swift delivery service anywhere in Indonesia.

At mandy, the team firmly believes that a superior shopping experience comes from meticulous attention to detail and a commitment to continuous innovation. Through this new round of financing, mandy aspires to further its mission and generate greater value for Indonesian consumers and businesses. The company eagerly anticipates collaboration with partners, investors, merchants, and consumers as they collectively shape the future of e-commerce.

The issuer is solely responsible for the content of this announcement.

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