Tokopedia secures USD 1.1 bln from Alibaba and SoftBank

Tuesday 18 December 2018 00:31 CET | News

Indonesia-based ecommerce company Tokopedia has secured USD 1.1 billion in its latest funding round led by Alibaba Group and SoftBank Group.

This follows a similar investment in 2017, also led by Alibaba, which has been expanding rapidly into Southeast Asia. The latest funding boosts Alibaba’s share of the fast-growing Indonesian ecommerce market. The Chinese company is also a majority owner of Lazada, which is one of Tokopedia’s competitors in the market.

According to Tokopedia, the company planned to use the funds to invest in technology and infrastructure, while also focusing on the Indonesian market and driving economic development and financial inclusion.

Moreover, the latest round includes investments from Softbank’s Vision Fund as well as Softbank Ventures Korea and Sequoia Capital.

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Keywords: Tokopedia, Alibaba, Softbank, Indonesia, ecommerce, funding, Southeast Asia, Vision Fund, Softbank Ventures Korea, Sequoia Capital
Countries: World