Highlights:

• Series A & Financing: Baskit has closed a US$4.4M Series A first close led by Cento Ventures, paired with a US$3M revolving credit facility from HSBC Innovation Banking.
• AI-Enabled Platform: Baskit is building an AI-enabled platform for offline distribution, combining software, operational workflows, payments, and embedded credit into a single system.
• Proven Execution: 60+ brand partners. Retailers including Alfamart, Circle K, and Boots. Strong growth with consolidated profitability held for 1.5 years.
• Regional Expansion: Baskit has scaled in Indonesia and is now expanding to the Philippines.

Baskit, a platform combining technology and financial services to digitize Southeast Asia’s offline distribution networks, today announced the closing of a US$ 4.4 million Series A funding round.

The round was led by Cento Ventures, with participation from Kaya Founders, Analog Ventures (previously Forge Ventures), and Orvel Ventures.

The Series A follows Baskit’s earlier US$ 5.5 million pre-seed and seed rounds raised in early 2023, bringing total equity raised to US$10 million to date.

In addition to the equity raised, Baskit also secured a US$ 3 million revolving credit facility from HSBC Innovation Banking.

The round of funding brings a mix of global, regional, and local strategic partners, supporting Baskit’s expansion into the Philippines as its first market beyond Indonesia.

"We are particularly excited to partner with a mature, fintech-focused investor like Cento Ventures, whose deep expertise in scaling regional financial platforms aligns with our vision for embedded credit and financial services across supply chains," said Yann Schuermans, CEO and Co-Founder of Baskit.

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.

Building the infrastructure layer for Southeast Asia’s offline economy

While e-commerce continues to grow in Southeast Asia, more than 90% of trade still flows through offline channels. For many emerging brands, building reliable distribution at scale remains a complex and resource-intensive challenge.

Baskit addresses this by supporting brands in designing and executing go-to-market strategies, while coordinating and digitizing distributor, wholesaler, and retail networks across the supply chain. The platform helps brands expand market access and improve sell-through, while equipping channel partners with operational tools, embedded credit, and greater visibility into inventory, margins, and performance.

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

From operational mastery to AI and financial infrastructure

A key pillar of Baskit’s model is the integration of embedded credit and payments, enabling distributors to access financing for inventory and improving liquidity across the supply chain.

Baskit works with financial institutions such as HSBC, as well as networks like Visa, to connect ecosystem participants with relevant payments and treasury solutions, enabling more efficient transactions between brands, distributors, and retailers.

"We are delighted to deepen our relationship with HSBC and leverage their global network and innovative solutions as we scale across the region,” Schuermans added.

"HSBC Innovation Banking is proud to support high-growth businesses like Baskit with tailored financing solutions from our US$ 1.5 billion funding pool. Leveraging our presence in 10 global innovation hubs, including Singapore, and a global network of 900+ experts, we connect innovative ideas with the capital they need to scale. We’re excited to support Baskit’s Southeast Asia expansion,” said Neil Falconer, Head of Innovation Banking, HSBC Singapore.

Over the past several years, the company has focused on building a multi-category, multi-channel platform that integrates technology, operational execution, and financial services into a single ecosystem.

This approach has enabled Baskit to achieve a combination of growth, strong margins, profitability, and balanced cash flows, with the company consistently profitable for the past 1.5 years.

The company stands out as one of a new generation of regional technology companies: operationally rigorous, capital-efficient, and built around real economic infrastructure, said Yuan Lee Chung, Partner at Cento Ventures.

“Baskit has spent years mastering one of the most complex operating environments in Southeast Asia: offline distribution in fragmented growth markets,” she said.

That mastery creates the data and execution foundation required to support AI, embedded credit, and financial services, added Chung. “We believe Baskit is helping define a new playbook for Southeast Asian technology — one built on operational depth, capital discipline, and the confidence to solve hard problems in the real economy.”

Scaling from Indonesia into the region

With the Series A funding, Baskit plans to deepen its presence across Indonesia while expanding into Southeast Asia, beginning with the Philippines.

“Indonesia is our stronghold, and the Philippines is our next chapter,” said Schuermans. “We are building a company that can define how offline commerce scales in fragmented markets. The next generation of Southeast Asian technology leaders will come from teams that are willing to master complexity, digitize it deeply, and build enduring platforms on top of it.”

Paulo Campos, Founding Partner at Kaya, added: “The Philippines remains, at its core, a consumer story—one where commerce continues to evolve alongside a rapidly shifting middle class. While e-commerce unlocked the first wave of growth, we are now seeing a natural progression toward omnichannel, as brands need to meet consumers seamlessly across both online and offline touchpoints.

“Kaya Founders is excited to partner with Baskit at this inflection point, as digital-first brands look to expand into offline channels to unlock their next phase of growth. By pairing strong operational fundamentals with a robust distribution network, Baskit enables brands to bridge this gap and scale more effectively. In doing so, it captures what we believe defines the next phase of the New Filipino Consumer—one shaped not by channel, but by access, convenience, and consistency across experiences.”