Baskit, a platform digitizing Southeast Asia’s offline distribution networks, has announced a $4.4 million Series A first close to accelerate its regional expansion. The round was led by Cento Ventures, with participation from Kaya Founders, Analog Ventures, and Orvel Ventures. Alongside the equity funding, the company secured a $3 million revolving credit facility from HSBC Innovation Banking, bringing its total capital raised to date to approximately $9.9 million.
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. This approach is particularly vital for small and mid-sized FMCG, Beauty, and Personal Care brands that have historically been locked out of the channels where most consumers actually buy.
Hadi Tanzil (CPTO), Yann Schuermans (Co-founder & CEO)
“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 platform helps brands expand market access while equipping channel partners with operational tools and embedded credit. Yuan Lee Chung, Partner at Cento Ventures, noted: “Baskit has spent years mastering one of the most complex operating environments in Southeast Asia: offline distribution in fragmented growth markets. That mastery creates the data and execution foundation required to support AI, embedded credit, and financial services. 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.”
The new capital will support Baskit’s continued expansion across Indonesia and its move into the Philippines as its first market beyond Indonesia. Neil Falconer, Head of Innovation Banking at HSBC Singapore, stated: “HSBC Innovation Banking is proud to support high-growth businesses like Baskit with tailored financing solutions from our US$1.5bn 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.”
The expansion aligns with a shift toward omnichannel commerce in the Philippines. Paulo Campos, Founding Partner at Kaya Founders, noted: “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,” added Campos.
Founded in 2023, Baskit bridges the gap in fragmented and financially isolated supply chains by embedding the operational technology, payments, and financing needed to transact and grow. By connecting brands with distributors and wholesalers, the platform serves as an infrastructure layer for the offline economy. Consistently profitable for the past 1.5 years, the company remains focused on building a multi-category, multi-channel platform as it scales.
“Indonesia is our stronghold, and the Philippines is our next chapter,” Schuermans added. “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.”