Bukalapak, a Jakarta, Indonesia e-commerce company, raised $50m in Series D funding.
Mirae Asset-Naver Asia Growth Fund – a joint vehicle operated by Korean mutual fund Mirae Asset and Naver – made the investment in a deal that valued the company at around a $1 billion.
The company intends to use the capital to continue to build out its tech platform.
Founded in 2010, Bukalapak provides an online commerce platform, as well as streaming and fintech products.
Other backers in the company include Alibaba’s Ant Financial, Emtek, and Singaporean sovereign fund GIC, among others.