Tokopedia Announces Funding Raise of 16 Trillion Rupiah Led by Softbank and Alibaba

Today (12/12) Tokopedia officially announced its latest funding acquisition of $1,1 billion (equivalent to 16 trillion Rupiah). This funding round was led by SoftBank Vision Fund and Alibaba Group with the participation of Softbank Ventures Korea, as well as previous Tokopedia investors. News about this funding already broadcast since the end of November.

Tokopedia plans to use the additional capital to drive the development of technology and infrastructure that will empower millions of local businesses to grow and provide the best experience for customers.

"In our first nine years, Tokopedia focused on building the largest marketplace in Indonesia that provides physical and digital goods. Entering its tenth year, Tokopedia will develop our ecosystem into infrastructure-as-a-service (IaaS) where logistics technology, fulfillmentOur commerce, payments and financial services will power commerce, both online and offline. This will expand Tokopedia's scale and reach, while increasing operational efficiency for millions of businesses and partners," said Tokopedia Co-Founder & CEO William Tanuwijaya.

So far, Tokopedia has reached 93% of sub-districts in Indonesia on more than 17.000 islands. In this year gross merchandise value (GMV) Tokopedia increased by four times. Currently Tokopedia has also delivered the same day (same day delivery) for 25% of transactions that occur on the platform.

"Tokopedia has provided access to more than 100 million types of products for the Indonesian people. We support and believe in the power of entrepreneur local area, and see that Tokopedia's growth potential will continue to be sustainable," said Lydia Jett, Senior Investor of SoftBank Investment Advisers and Member of the Board of Tokopedia.

In the previous news, news broke about the condition of shareholding currently on Tokopedia. William Tanuwijaya and Leontinus Alpha Edison are said to hold less than 8% of the company's shares. Softbank in total (including through its affiliates) owns more than 38% of the company's shares. Alibaba, through Taobao, is the second largest investor with 25% ownership.