Haus! Pockets Series B1 Funding, Steady Steps Towards IPO
Launched in 2018 as an F&B startup in the new tea & boba product segment, Haus! currently has around 200 outlets spread across Jabodetabek. Implementing a “cost leadership” business model, since the beginning the company has strived to consistently maintain product quality.
To be relevant to its market share, outlets are also designed with lifestyle nuances and flavored with products at affordable selling prices.
Co-Founder & CEO of Haus! Gufron Syarif said that inspired by China, new tea & boba products targeting the lower middle class have great potential.
He also considered that there was the same potential in Indonesia. It turned out that the hypothesis regarding the F&B business was well validated in the market. Likewise in the eyes of investors.
Not long ago, Haus! again pocketed fresh funds in the series B1 round from several angel investors such as Rama Notowidigdo representing Ubi Capital and Arya Setiadharma representing Prasetia Dwidharma.
A number of venture capitalists were also involved, including Strategic Year Holdings and Atlas Global Ventures. The fresh funds will be focused on accelerating business growth and realizing the company’s goals for an immediate IPO.
Previous Haus! has also received series A funding worth 30 billion Rupiah from BRI Ventures through the Sembrani Nusantara Fund.
After receiving the injection in 2020, Haus! recorded a 54.5% increase in sales from $11 million (156 billion Rupiah) in 2020 to $17.53 million (252 billion Rupiah) in 2021.
Launched The App, Targeting 20% Transaction Acquisition
As part of the plan, next July Haus! will launch its first mobile application. Partnering with third-party logistics Lalamove, this application is expected to provide more benefits, including more intensive data management.
Currently, the company records that around 60% of transactions come from the marketplace. According to Gufron, this has helped them to carry out distribution, but it would be ideal if the company also had its own data and delivery options through the application.
“We are targeting that by 2025 around 20% of transactions can be obtained through our own application. Looking at the current dynamics, partnerships with marketpalce are indeed very helpful, but in the future we see that there will be changes in terms of commission and other policies imposed by the marketplace on us , said Gufron.
With a cost leadership approach, Haus! is likened to a low-cost budget airline, whose services and products can be enjoyed by all people.
Even though they consistently provide the best product quality, they strive for affordable prices, targeting the lower middle segment.
Another business strategy that is also claimed to have had a positive impact is that from the start they did not run operations on a franchise or franchise basis.
According to Gufron, running their own operations makes it easier for them to maintain quality and control operations. In the long term, a concept like this can also make the business more sustainable.
Modern And Minimalist Outlet Development
To be able to reach more customers, Haus! deliberately built outlets in different locations. Starting from housing, schools, to public transportation locations such as KRL stations.
Even though it doesn’t have a large location and is only in the form of a simple outlet, a strategy like this is able to grow transactions using delivery from the marketplace.
“Unlike other similar products that are in a more middle to upper category, we don’t place our outlets in premium shopping centers. Later, if Haus! has a plan to launch a new outlet in the mall, what we choose is a place to shop which is in the lower middle category,” said Gufron.
It is very familiar among the people enjoying contemporary drinks, making the business that is applied to Haus! and other similar products can run more smoothly.
Acceleration during the pandemic has also helped them expand their outlets even more. According to Gufron, the new tea & boba and coffee chain categories when explored more deeply, the market size is worth 10 trillion Rupiah.