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Bukalapak raises USD 234 mln in new funding round

Thursday 15 April 2021 14:59 CET | News

Indonesia-based ecommerce company Bukalapak has raised USD 234 million in capital in a funding round led by Microsoft, Singapore sovereign wealth fund GIC, and local media conglomerate Emtek.

The latest funding round comes amid increased interest from global investors in gaining exposure to the Southeast Asian technology sector.

The funding round also included SC Ventures, the investment arm of Standard Chartered, and South Korean web portal Naver Corp.

According to Reuters, Bukalapak is expected to face stiff public market competition from Indonesian ride-hailing and payments company Gojek and larger ecommerce rival Tokopedia, which sources say are close to finalising a merger ahead of a potential dual listing in Jakarta and the US.


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Keywords: Bukalapak, funding, ecommerce
Categories: Payments & Commerce
Companies:
Countries: Indonesia
This article is part of category

Payments & Commerce