"Virtual Item Marketplace" Itemku Gets New Funding Of 16 Billion Rupiah

Virtual item marketplace Itemku, run by Five Jack, announced the acquisition of fresh $1,2 million (approximately 16 billion Rupiah) from 500 Startups and several unnamed South Korean VCs. This funding will be used to dominate the market virtual item Indonesia while expanding into the Southeast Asian market.

This funding is the third time Five Jack has received. In total, they have secured an investment of $1,7 million (over 22 billion Rupiah). 500 Startups have twice put funds into My Items, while the initial investment came from BonAngels, a South Korean venture capital firm.

Unlike the marketplace in general, Itemku sells virtual goods that are usually not accommodated by gaming platform owners. Itemku helps gamers to sell and buy virtual products in their favorite games. Call it Clash of Clans, CSGO, or Point Blank. Consumers of products like this can buy new Town Halls, characters, or weapons in Rupiah.

In addition to My Items, Five Jack is also currently developing media crazy which specifically discusses games and the dynamics of buying and selling virtual products in Indonesia. It is said that this service is intended to accommodate the community Gaming in Indonesia, which previously only interacted as sellers and buyers on my items.

In the release, Five Jack's CEO Denis Kim said, “Our team has extensive experience in the industry market games, both Indonesia and Southeast Asia. I think this industry has great growth potential in the future."

Five Jack was founded in 2013 and claims to now have 30% business growth every month.