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Bukalapak Boosts Annualized GMV to IDR 48 Trillion

Ant Financial and Singapore-based investment company GIC Pte Ltd involved as Bukalapak's investors

Amir Karimuddin - 27 September 2018

In an interview with Bloomberg, Bukalapak's Co-Founder and President M. Fajrin Rasyid revealed the company's monthly Gross Merchandise Value (GMV) has reached IDR 4 trillion ($270 million) or Annualized GMV of IDR 48 trillion (around $3.2 billion).

In addition, Ant Financial (Alipay) and Singapore-based investment company GIC Pte Ltd are reportedly involved as Bukalapak investors, although Rasyid has confirmed to DailySocial that both aren't participated in the last round addressing Bukalapak as a unicorn worth over $1 billion.

He said one-fifth (20%) of the GMV is a contribution from partners' sales of the exceeding 300 kiosks.

"It's expected, after receiving goods [transaction results], they'll be happy doing their own online transaction [no need for agents] and Bukalapak becomes the platform they choose for the next transaction," he said.

He also said, Bukalapak plans to raise new funding by earlier next year, they're not rushing. IPO is said to be considered in 1 to 2 year later.

Furthermore, he mentioned the company is making some acquisition. We've got some news regarding Bukalapak acquisition of some software house (in the form of acquihire). He said the company is making progress for acquisition towards e-commerce players having a synergy with the company.

As one of the two Indonesian unicorn startups engaged in the e-commerce sector, Bukalapak is included in Indonesia's top 5 e-commerce based on traffic and popularity. Some of their latest highlights are the launch of bus ticketing service, partners with DANA as their digital payment platform, and open the installment-based payment service with Akulaku called BukaCicilan.

Original article is in Indonesian, translated by Kristin Siagian

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