Indonesian e-commerce company Bukalapak has secured $50m in additional funding. The series D round was financed by a joint vehicle consisting of Korean mutual fund Mirae Asset and Naver. On the seller side, it said its core e-commerce business covers products from four million SMEs, 500,000 kiosk vendors and 700,000 “independent” micro-businesses in Indonesia. Bukalapak had not revealed any investments before now and did not provide an updated valuation, though it was previously worth $1bn. In the last few years, there have been several high-profile acquisitions that raised eyebrows among investors. It intends to use the latest funding to increase opportunities for the latter and improve its tech platform.
Indonesian e-commerce company Bukalapak has secured $50m in additional funding. The series D round was financed by a joint vehicle consisting of Korean mutual fund Mirae Asset and Naver. Bukalapak had not revealed any investments before now and did not provide an updated valuation, though it was previously worth $1bn. In the last few years, there have been several high-profile acquisitions that raised eyebrows among investors. It intends to use the latest funding to increase opportunities for the latter and improve its tech platform.