<article>Indonesian B2C e-commerce platform <a style="color: #000080;" href="http://mataharimall.com/">MatahariMall.com</a> has announced a new equity round led by Japanese trading house <a style="color: #000080;" href="https://www.mitsui.com/" target="_blank">Mitsui &amp; Co</a>.</article>

Indonesian B2C e-commerce platform <a style="color: #000080;" href="http://mataharimall.com/">MatahariMall.com</a> has announced a new equity round led by Japanese trading house <a style="color: #000080;" href="https://www.mitsui.com/" target="_blank">Mitsui &amp; Co</a>.
Other undisclosed new and existing investors also participated in the round.
The Lippo Group-controlled company said the funds would be used to improve market share, and to strengthen its position as the “leading e-commerce player in the country.”
“We are happy to welcome Mitsui as our partner. This partnership is a strong validation to our mission. Our vision is to become Indonesia’s leading tech company,” said Hady Wenas, MatahariMall CEO.
Emirsyah Satar, chairman of MatahariMall, added that the round of funding shows the confidence and optimism investors have in the company as well as in the long term potential of Indonesia.
“MatahariMall has grown tremendously over the past year. Mitsui’s expertise and track record in technology and logistics will help boost the company’s growth plans,” he said.
Prior to this investment, Mitsui and <a style="color: #000080;" href="https://www.lippokarawaci.co.id/" target="_blank">Lippo Group</a>  fostered several partnerships and investments in the Indonesian technology and media space, including 4G internet service provider <a style="color: #000080;" href="http://www.bolt.id/" target="_blank">Bolt</a>, direct-to-home pay TV service <a style="color: #000080;" href="http://bigtvhd.com/" target="_blank">BIGTV</a>, and an 80,000 square meter data centre.
MatahariMall did not say how much shares Mitsui obtained in the deal.
But it seems that it will not be Mitsui’s last investment in MatahariMall. Japan’s Nikkei reported that Mitsui will spend “a few billion yen” to purchase a roughly 10 per cent stake in Global ECommerce Indonesia (GEI), the company that runs MatahariMall. The agreement is set to close in November.
In addition to the online platform, GEI also runs 150 Matahari department stores in Indonesia. The chain enjoys recognition and MatahariMall has become a top-ranking Indonesian online retailing site.
MatahariMall warehouses and ships products from the roughly 5,000 affiliated sellers the web portal hosts. The online retailer also procures goods directly and sells them independently. Home electronics are currently seeing robust demand. MatahariMall also handles apparel, clothing accessories and food. Monthly sales are reportedly outpacing year-earlier figures by 10%.
The virtual mall also serves as a delivery and pickup depot for Lippo Group&#8217;s Hypermart, a supermarket chain with over 100 domestic outlets. MatahariMall boasts about 680 pickup locations including lockers at stations and universities.
Indonesia&#8217;s e-commerce market will expand to $46 billion by 2020, according to studies. China e-commerce giant <a style="color: #000080;" href="http://www.alibabagroup.com/">Alibaba Group Holding</a> invested in <a style="color: #000080;" href="http://www.lazada.com">Lazada Group</a>, a Singapore-based startup that operates a top online retailing platform in Indonesia. Japan&#8217;s <a style="color: #000080;" href="http://www.softbank.jp/en/corp/">SoftBank Group</a> is backing major Indonesian rival <a style="color: #000080;" href="https://www.tokopedia.com/">Tokopedia</a>.
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Indonesian B2C e-commerce platform MatahariMall.com has announced a new equity round led by Japanese trading house Mitsui & Co.

Indonesia: Lippo Group-controlled MatahariMall raises $100m in equity round from Mitsui

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Indonesia: Lippo Group-controlled MatahariMall raises $100m in equity round from Mitsui

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