SaaS startup Lummo has raised $80 million in a funding round led by Tiger Global and Sequoia Capital India, the company said in a statement. The funding round also saw other investors like CapitalG, NuvemShop CEO Santiago Sosa, and former Lazada CEO Max Bittner.

The company said that it would use the fresh funds to hasten the business growth of Micro, Small and Medium Enterprises (MSMEs) in Indonesia and the rest of Southeast Asia. “Lummo’s strategic investment in Indian talent will increase by 3x in the year 2022 in product, engineering, strategy, HR and finance teams,” the company said in a statement.

“The funding we have raised shows that investors want to become the preferred partner to merchants and MSMEs and in the rapidly increasing digital economy. We offer businessmen and brands to sell directly to their customers and allow them to develop a strong and distinctive brand online using LummoSHOP,” Krishnan Menon, CEO and founder of Lummo, said.