Tencent and Prosus Ventures were among the investors leading the small business wholesaler's latest round, bringing its total funding to almost $120m.

Indonesia-based wholesale e-commerce platform Ula secured $87m yesterday in a series B round co-led by internet and gaming group Tencent and Prosus, the internet vehicle formed by media and e-commerce group Naspers.

Venture capital firm Prosus Ventures and B Capital also co-led the round and were joined by Bezos Expeditions, Sequoia Capital India, Northstar Group, Citius, AC Ventures, Lightspeed India, Alter Capital and Quona Capital, while Prosus invested through its Prosus Ventures unit.

Ula provides small retailers with access to…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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