JAKARTA (TheInsiderStories) – Indonesian retailer, PT Tokopedia is reportedly has has reached an agreement with Singapore-based Temasek Holdings, to get a fresh funds US$500 million. In January, the company was reported in the final stages of closing an investment round valued at around $1.5 billion with the conglomeration firm, Japan’ Softbank, and China’ Alibaba Group.
The marketplace, which is notably the largest of its kind in Indonesia, is now on track to become one of the biggest unicorns in the country following its funding round. Right behind GoJek, the first Indonesia-headquartered firm to reach a valuation of roughly $10 billion.
Temasek, a major stakeholder in Gojek, reportedly be leading Tokopedia’ $1.5 billion funding round with a $500 million investment. Existing investors Softbank and Alibaba are also expected to invest substantial amounts. The capital injection would make value of the company at $9 billion. The firm was valued at $7 billion in 2018.
The big tech had “already mapped out, planned, and prepared the appropriate arrangements needed” for the firm’ listing in the coming years. 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. in 2017, Alibaba has poured $1.1 billion investment to Tokopedia, the first direct investment by the company in Indonesia.
Then in 2018, the operator received another funding $1.1 billion from Softbank, Alibaba, and the existing investors. This major investment from the investors will lead Tokopedia to become unicorn with the valuation of $1 billion after GoJek, a ride-hailing company bearing status as the first unicorn company in Indonesia with the valuation of $1.3 billion.
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.
Tanuwijaya asserted, in the first nine years, the company focused on building a marketplace that provides physical and digital goods. Entering its tenth year, the retailer will develop logistics, fulfillment, payment and financial services to support trade, both online and offline.
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, the company is in the right position to serve millions of other people.
The e-commerce player now reaches 93 percent of sub-districts in Indonesia on more than 17,000 islands. This year, its 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.
Tokopedia also considered its share at home and in another market. The company is looking to do the dual listing because it wants its consumers and sellers to also become shareholders, said Tanuwijaya.
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