Posted Dec 12, 2018 17:19 (GMT +7)
Tokopedia Secures US$1.1 Billion in Latest Financing Round
- SoftBank Vision Fund, Alibaba Group and existing investors participated in the latest funding round
- Tokopedia plans to use the funds to further invest in technology and infrastructure in Indonesia to support its commerce, logistics, fulfillment, payments and financial services ecosystem
JAKARTA, Indonesia--(BUSINESS WIRE)--Dec. 12, 2018
PT Tokopedia, Indonesia’s leading technology company, announced today that it has secured US$1.1 billion in its latest financing round.
The funding is led by the SoftBank Vision Fund and Alibaba Group with participation by Softbank Ventures Korea and other existing investors.
Tokopedia will continue to focus on the Indonesian market and drive economic development and financial inclusion in Indonesia. The company expects to use the funds to build technology and infrastructure that empowers millions of local businesses to grow, as well as provide the best customer experience.
William Tanuwijaya, CEO and Co-Founder of Tokopedia, said: “In our first nine years, Tokopedia focused on building Indonesia’s largest marketplace for physical and digital goods. Leading into our tenth year, Tokopedia is evolving our ecosystem to infrastructure-as-a-service where our logistics, fulfillment, payments and financial services technologies will empower commerce, both online and offline. This will broaden Tokopedia’s scale and reach while improving operational efficiencies for the millions of businesses and partners in our ecosystem and further our mission to democratize commerce through technology in Indonesia.”
“Since its inception, Tokopedia has helped millions of Indonesian SMEs sell products digitally across the archipelago,” said Lydia Jett, senior investor at SoftBank Investment Advisers and Tokopedia Board member. “Tokopedia already provides millions of consumers with access to more than 100 million products, and the company is well-positioned to serve millions more as internet adoption continues to grow rapidly in the region. We believe in championing homegrown entrepreneurship and see a long runway for the company’s continued growth.”
“We see our mission – to make it easy to do business anywhere – reflected in Tokopedia’s journey,” said Kenny Ho, Head of Investment, Southeast Asia and India at Alibaba Group. “We are excited to deepen our relationship with Tokopedia in enabling Indonesian small businesses and accelerating Indonesia’s economic development.”
Tokopedia serves 93% of districts in Indonesia across 17,000 islands. In the past year, the company has quadrupled its gross merchandise value and now provides same-day delivery to 25% of its customers. Tokopedia is committed to serving Indonesia and will work with its partners to build the best technology and infrastructure to unlock the potential and opportunity for the next hundred million users.
Tokopedia is an Indonesian technology company with the mission to democratize commerce through technology. It has a leading marketplace platform in Indonesia, empowering millions of merchants and consumers to participate in the future of commerce. Tokopedia’s vision is to build an ecosystem where everyone can start and discover anything with ease.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181211006019/en/
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