Leading technology company PT Tokopedia announced on Wednesday that it has secured $1.1 billion in its latest round of financing led by SoftBank Vision Fund and Alibaba Group with participation from Softbank Ventures Korea and other existing investors.
News page TechCrunch AND Technology in Asia you mentioned that this deal turns the Indonesian e-commerce unicorn into Most worthy startup within the country, valued at roughly $7 billion.
Tokopedia said in a press statement that it plans to make use of the funds to construct technology and infrastructure that may enable tens of millions of local businesses to grow to support financial inclusion in Indonesia.
Tokopedia CEO and co-founder William Tanuwajaya said that in its first nine years, Tokopedia has focused on constructing Indonesia’s largest marketplace for physical and digital goods.
“As we enter our tenth year, Tokopedia is evolving our ecosystem towards infrastructure-as-a-service, where our technologies in logistics, fulfillment, payments and financial services will empower commerce both online and offline,” William said in an announcement quoted by Jakarta Post Office.
“This will expand Tokopedia’s scale and reach while improving operational efficiency for the millions of companies and partners in our ecosystem.”
Tokopedia claims to serve just about all districts in Indonesia and provides same-day delivery to 25 percent of its customers.
Lydia Jett, senior investor at SoftBank Investment Advisers and Tokopedia board member, said Tokopedia has provided tens of millions of consumers with access to over 100 million products and can serve much more as Internet adoption rapidly grows within the country.
Like Alibaba, Tokopedia has expanded beyond e-commerce and offers other services comparable to online payments.
“We see our mission – making it easier to do business anywhere – reflected in Tokopedia’s journey,” said Kenny Ho, chief investment officer for Southeast Asia and India at Alibaba. Financial Times.
Founded in 2009, Tokopedia is currently the biggest online marketplace in Indonesia, comparable to Alibaba’s Taobao.
The latest round includes investments from Softbank’s Vision Fund, in addition to Softbank Ventures Korea and Sequoia Capital.
The company, which supplies products to about 93 percent of Indonesia’s counties, says it quadrupled its sales last 12 months.
