PT Tokopedia, Indonesia’s leading technology company, announced on Tuessday (Dec 11) that it has secured US$1.1 billion in its latest financing round. The funding is led by the SoftBank Vision Fund and Alibaba Group with participation by Softbank Ventures Korea and other existing investors.
Tokopedia will continue to focus on the Indonesian market and drive economic development and financial inclusion in Indonesia. The company expects to use the funds to build technology and infrastructure that empowers millions of local businesses to grow, as well as provide the best customer experience.
Tokopedia serves 93% of districts in Indonesia across 17,000 islands. In the past year, the company has quadrupled its gross merchandise value and now provides same-day delivery to 25% of its customers.