Tokopedia secures US$1.1 bil in new funding round
By Digital News Asia December 12, 2018
- Funds will be used to develop technology and infrastructure
- To date, Tokopedia serves 93% of districts in Indonesia across 17,000 islands
INDONESIA-based Tokopedia announced on Dec 12 a new funding round of US1.1 billion led by SoftBank Vision Fund and Alibaba Group. Also participating were Softbank Ventures Korea and existing investors.
Tokopedia plans to use the funds to encourage technology and infrastructure development that will empower millions of local businesses to grow and provide the best experience for customers.
Tokopedia chief executive officer and co-founder William Tanuwijaya 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 democratise commerce through technology in Indonesia.”
SoftBank Investment Advisers senior investor and Tokopedia board member Lydia Jett said, “Since its inception, Tokopedia has helped millions of Indonesian SMEs sell products digitally across the archipelago
“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.”
To date, Tokopedia serves 93% of districts in Indonesia across 17,000 islands. In the past year, the company has quadrupled its gross merchandise value (GMV) and now provides same-day delivery to 25% of its customers.
“We see our mission – to make it easy to do business anywhere – reflected in Tokopedia’s journey. We are excited to deepen our relationship with Tokopedia in enabling Indonesian small businesses and accelerating Indonesia’s economic development,” said Alibaba Group head of investment Southeast Asia and India Kenny Ho.
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.