Tokopedia’s latest funding round lands US$1.1bn

Indonesian tech leader Tokopedia has announced fresh funds from its latest financing round amounting to US$1.1bn

The firm’s press release said the funding was led by Japan’s SoftBank Vision Fund and SoftBank Ventures Korea, as well as China’s Alibaba Group.

It added that Tokopedia intends to use the funding to drive technology and infrastructure development with a continued focus on the Indonesian market, its economic development and financial inclusion.

Serving over 93% of Indonesian districts across 17,000 islands, Tokopedia has become the country’s top marketplace platform and is committed to expanding its native userbase.

The firm has thus far successfully brought same-day delivery to 25% of its customers.

See more:

• SoftBank IPO hits US$23.5bn, second-largest stock market listing of all time
• Google acquires Indian tech firm Sigmoid Labs
• XCMG reports over US$100mn in new partnership agreements

“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,” said William Tanuwijaya, CEO and Co-Founder of Tokopedia, in the company’s statement.

"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 democratize commerce through technology in Indonesia.”

Kenny Ho, Head of Investment for Alibaba Group in Southeast Asia and India, added:

“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.”