Bukalapak Announces Series F Funding, Now Valued at 35 Trillion Rupiah
Shinhan GIB and Emtek are also participated
Randi Eka - 4 October 2019
Today (10/4) Shinhan GIB announced investment to Bukalapak’s series F. There’s no information of the number raised from the South Korean Bank in the release. In fact, Bukalapak has closed this round at over $2.5 billion (equivalent to 35 trillion Rupiah). Emtek as the previous investor is said to be involved.
The valuation is quite interesting compared to the other unicorns. Says Ovo, the e-wallet app is said to reach $2.9 billion. While the closest rival, Tokopedia, exceeded $7 billion valuation post-Alibaba and Softbank funding in the late-2018.
The fresh money is to be used in the long-term business plan and strategy for financial inclusion and retail business transformation in Indonesia. This has brought fresh air to the Achmad Zaky – founded company, post the layoff rumor.
The company also said that Bukalapak currently has over 70 million users. It includes more than 4 million sellers and 2 million partners/agents (shops) from all over the country.
- Mitra Bukalapak Perkuat Fitur Digital, Kini Punya Layanan Pembukuan dan Pencatatan Utang
- Mandiri Capital Konfirmasi Masuk Putaran Pendanaan Seri G Bukalapak
- BRI Ventures Ikut Suntik Dana ke Bukalapak
- Bukalapak Dikabarkan Kantongi Pendanaan Lebih dari 3 Triliun Rupiah
- Emtek Tidak Lagi Jadi Pengendali Induk DANA
Original article is in Indonesian, translated by Kristin Siagian
Thank you for Reading DailySocial.id
Starting at less than Rp 5.000/Day. You get unlimited access to DailySocial.id