Financial services firms Bank BRI and Bank Mandiri have provided an undisclosed amount of funding for Indonesia-based e-commerce marketplace Bukalapak through subsidiaries BRI Ventures and Mandiri Capital, DealStreetAsia reported today.
Founded in 2009, Bukalapak runs an online marketplace where a network of some 13.5 million micro, small and medium-sized enterprises (MSMEs) list their products for online sale. It also operates a business-to-business procurement service.
The company raised $234m yesterday from media group Emtek, software producer Microsoft, internet group Naver, financial services firm Standard Chartered’s SC Ventures unit and GIC.
The latest investments represent an extension to the aforementioned round, according to a source close to the development. Bukapalak’s earlier investors include Emtek, the Naver-backed Mirae Asset-Naver Asia Growth Fund, internet company Gree’s Strive unit, price comparison platform Aucfan and financial services provider Ant Group.
BRI Ventures’ chief executive, Nicko Widjaja, said: “We know that through Bukalapak, BRI Group can also offer accessible business support to any small business, no matter where they are in the country. I am confident that local, digital MSMEs will soon be more resilient and sustainable than ever before.”
