Tokopedia, a Jakarta, Indonesia-based online marketplace that allows individuals and business owners to open and maintain their stores for free, secured US$1.1 billion in financing.
The round was led by the SoftBank Vision Fund and Alibaba Group with participation from Softbank Ventures Korea and other existing investors.
The company expects to use the funds to further invest in technology and infrastructure in Indonesia to support its commerce, logistics, fulfillment, payments and financial services ecosystem.
Led by William Tanuwijaya, CEO and Co-Founder, Tokopedia provides a marketplace platform empowering millions of merchants and consumers in Indonesia to for sell physical and digital goods.
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.