Mirae Asset-Naver Asia Growth Fund, the vehicle formed by internet company Naver and investment firm Mirae Asset Daewoo, has invested $50m in Indonesia-based e-commerce marketplace Bukalapak, Bloomberg reported today.
The investment will form part of an ongoing round the company has confirmed is taking place, though it did not disclose any financial details.
Founded in 2010, Bukalapak operates an online marketplace for third-party merchants, particularly those that specialise in bargains and large quantities of second-hand items. It has also expanded into a range of fintech activities, such as gold and mutual funds trading.
The company will continue to focus on its local market. Mirae will assist the company’s growth plans through strategic collaboration, though it has not revealed what that will involve.
Bukalapak had previously secured an undisclosed amount of funding in 2017 from unnamed backers at a valuation of more than $1bn, two years after media group Emtek had supplied an undisclosed amount of series B capital.
Price data aggregator Aucfan had joined social media company Gree’s corporate venturing arm, Gree Ventures, and VC firm 500 Startups to provide an undisclosed amount of series A funding for the company in 2014.
