TokoTalk Secures 45 Billion Rupiah Funding from Altos Ventures

TokoTalk, a solution provider for online sellers in managing their online stores, has just secured funding worth $3,2 million or 45 billion Rupiah from Altos Ventures from Silicon Valley, United States. After obtaining funding, the company will focus more on improving services to boost business growth.

Since launched as of March 2018, TokoTalk has managed to get 100.000 online sellers to join their system. The platform made by Codebrick from South Korea also claims to have recorded sales of $2 million during March 2019 -- or if the total total reached $10 million. The growth obtained by TokoTalk was accompanied by an increase in the number of users which reached 35% every month for the last 6 months.

"The revival of the internet in Indonesia immediately began with the era of smartphone so that Indonesian people are very attached to social media. Therefore, I believe social commerce will grow bigger in Southeast Asia, including Indonesia, Vietnam, and Thailand," said CEO of Codebrick Kyung-min Bang.

With the growth so far and funding from Altos Vetures, TokoTalk is committed to continuing to strengthen features for the convenience of online sellers in Indonesia. Some of the features that will continue to be improved include a more secure payment process, marketing support tools, and several others. They are targeting to reach $20 million in transactions this year.

"TokoTalk is very focused on providing the best service for the Indonesian market. Our goal is for everyone to be able to sell online easily, especially small and medium businesses. So far the solutions we have provided to sellers are very useful for their online business activities and make them able to develop their business to a higher level," said the Director of Operations ShopTalk Nesya Vanessa.