Indonesia-based e-commerce company MatahariMall has secured $100m in funding from a group of investors led by conglomerate Mitsui & Co, Bloomberg reported yesterday.
The consortium also featured a range of new and existing investors, though none of them have been named. The money will reportedly be provided in several tranches over the next 12 months.
MatahariMall operates an online store that sells a wide range of products from fashion to musical instruments to computer hardware.
The company was launched by conglomerate Lippo Group with a $500m commitment in February 2015. That cash is being provided over a two-to-three year period.
Emirsyah Satar, chairman of MatahariMall, said: “MatahariMall.com has grown tremendously over the past year. This round of funding shows the confidence and optimism investors have in MatahariMall.com’s market leadership and long term potential in Indonesia.
“Mitsui’s expertise and track record in technology and logistics will help boost the company’s growth plans.”