Indonesia-based e-commerce marketplace Tokopedia has raised $1bn from investors including internet and telecommunications group SoftBank, at a valuation of about $7bn, Bloomberg reported today, citing people familiar with the matter.
Founded in 2009, Tokopedia operates an e-commerce platform that allows any user to set up an online store, in contrast to other online marketplaces that prioritise larger producers and sellers.
The company offered items from more than 4 million merchants as of August this year, two years after it hit the 1 million mark, and it had more than 80 million monthly active users as of May this year.
The round increased Tokopedia’s overall funding to more than $2.2bn, and SoftBank has been an investor since 2014 when its Softbank Internet and Media and SB Pan Asia Fund units joined venture capital firm Sequoia Capital to invest $100m in the company.
An unconfirmed report suggested Tokopedia raised $147m from unnamed investors in 2016, before e-commerce group Alibaba led a $1.1bn round in August 2017 that media reports suggested could have included SoftBank and Sequoia.
Tokopedia’s early investors include CyberAgent Ventures, a subsidiary of internet company CyberAgent, which invested in rounds of undisclosed size in 2011 and 2013, as well as e-commerce firm Beenos, financial services provider SBI and VC firm East Ventures.
