TokoTalk Secures Funding Worth 45 Billion Rupiah from Altos Ventures

TokoTalk, a solution provider for online sellers in store management, have just received $3,2 million or 45 billion Rupiah from Altos Ventures obtained from Silicon Valley, United States. After this, the company will focus more on improving services to boost up business growth.

Since its launching in March 2018, TokoTalk has acquired 100,000 online sellers in their system. The Codebrick-made platform based in South Korea is claimed to record sales worth of $2 million during March 2019 - or in total, up to $10 million. The growth is followed by user increase up to 35% each month during the past 6 months.

"The rise of internet in Indonesia began with the smartphone era, it makes the people attached to social media. Therefore, I'm sure the social commerce will get bigger in Southeast Asia, including Indonesia, Vietnam and Thailand," Codebrick's CEO, Kyung-min Bang explained.

Looking at the current growth and funding from Altos Ventures, TokoTalk made a commitment to build up features for the sake of the online sellers in Indonesia. Some features are to be improved, including the secure payment process, marketing support devices, and some others. They're targeting to achieve $20 million transaction this year.

"TokoTalk is very focused on providing the best service for the Indonesian market. Our goal is for everyone to facilitate people in online business, especially SME. Currently, the solution we offered for sellers is very useful for their online business and enable them to expand to the next level," TokoTalk's Operational Director, Nesya Vannesa said.

– Original article is in Indonesian, translated by Kristin Siagian