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Indonesia’s largest online marketplace receives additional funds from Alibaba.
In its latest funding round, Indonesia’s online marketplace Tokopedia has successfully secured US$1.1bn from Alibaba Group Holding Ltd. as well as SoftBank Group Corp.
Recently, Tokopedia has been venturing into financial products such as digital wallets and virtual loans and credit cards. It is expected that the latest round of funding will accelerate developments in this area.
Lazada Indonesia, the other leading online marketplace in the country, is also majority owned by Alibaba. The latest moves by the Chinese ecommerce giant further strengthens its position in Indonesia
Founded in 2009, Tokopedia provides a platform for many small and medium enterprises to extend their customer reach. It also connects businesses to logistics providers as well as large banks. It encourages consumer-to-consumer sales and has been referred to as the “Taobao of Indonesia”.
Through Tokopedia, shoppers gain access to more than four million merchants and a platform that delivers to more than 90% of the vast country. Shoppers are able to easily track their online purchases through the platform.
Click here for more information about the Indonesian market.
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