Indonesia-based e-commerce marketplace Tokopedia has received a $100m investment led by Softbank Internet and Media, a newly formed subsidiary of telecommunications firm SoftBank.
SB Pan Asia Fund, another of SoftBank’s corporate venturing subsidiaries, also participated in the round, as did venture capital firm Sequoia Capital.
Tokopedia is also backed by CyberAgent Ventures, the corporate venturing unit of Japan-based internet group CyberAgent, which invested in the company in 2011 and 2013, internet company Netprice.com, financial services firm SBI and venture capital firm East Ventures.
Tokopedia’s website allows individual users to set up and run their own e-commerce shops for free. The funding will support the hiring of new employees and to attract new customers.
William Tanuwijaya, Tokopedia’s CEO, said: “With this new round, Tokopedia will have enough resources to form the best team, develop world class technology to help our merchants and bring the best commerce experience to our users. We will always prioritise our users and focus on making our users more successful.”