JAKARTA (TheInsiderStories) – One of largest marketplace operator in Indonesia, PT Tokopedia received new funding of US$ 1.1 billion from the Japan’ Softbank Vision Fund and Chinese Alibaba Group.
The company is also received funding from Softbank Ventures Korea and the existing investors. in 2017, Alibaba has poured $1.1 billion investment to Tokopedia, the first direct investment by the company in Indonesia.
Founded in 2009, Tokopedia has become the place for million small retailers to develop business across Indonesia as Southeast Asia largest market. The company raised major investment of $100 million from Softbank Ventures Korea and Sequoia in 2014 for the first time.
This major investment from the investors will lead Tokopedia to become unicorn with the valuation of $1 billion after GO-JEK, a ride-hailing company bearing status as the first unicorn company in Indonesia with the valuation of $1.3 billion.
Based on the official statement on Wednesday (12/12), Tokopedia will continue to focus on the Indonesian market and encourage economic development and financial inclusion in Indonesia. The online retailer also plans to use the funds to encourage the development of technology and infrastructure to empower local businesses.
William Tanuwijaya, CEO and founder of Tokopedia said, in the first nine years, the company focused on building a marketplace that provides physical and digital goods. Entering its tenth year, Tokopedia will develop ecosystems into infrastructure-as-a-service where logistics technology, fulfillment, payment and financial services will support trade both online and offline.
“This will expand Tokopedia’s scale and reach, while increasing operational efficiency for millions of businesses and partners in the Tokopedia ecosystem and accelerating the realization of our big mission to digitally create economic equality in Indonesia,” he said.
Softbank Investment Advisers’ Senior Investor and Tokopedia Board Member Lydia Jett said, Tokopedia has helped millions of Indonesian mediaum and small mediaum enterprises sell products digitally to all corners of the archipelago.
Tokopedia has provided access to more than 100 million types of products to the people of Indonesia. With the rate of internet adoption in Indonesia that continues to grow rapidly, Tokopedia is in the right position to serve millions of other people.
“We support and trust the strength of local entrepreneurs, and see Tokopedia’s growth potential will continue,” he said.
Tokopedia now reaches 93 percent of sub-districts in Indonesia on more than 17,000 islands. This year, Tokopedia’s gross merchandise value increased fourfold. At this time, Tokopedia has also made same-day delivery for 25 percent of transactions that occur on its platform.
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