Indonesia’s leading e-commerce marketplace Tokopedia has raised $147 million in fresh round of funding from undisclosed investors, according to several reports.
With the new deal, Tokopedia’s total disclosed funding is expected to reach $247 million.
It is not clear yet as to what the funding will be used for. Chief Executive Officer William Tanuwijaya could not be reached for comments.
That announcement caught the attention of the country’s mainstream media, which had largely ignored the tepid growth story of startups in the past.
Tokopedia was founded by Tanuwijaya, the son of a factory worker, during an internet boom in Southeast Asia’s largest economy in 2009.
The company now has more than 7.5 million transactions per month with a 10-20 per cent monthly growth rate. About 69 per cent users access the company’s site using mobile phones. But the vast majority of transactions still happen through the desktop version of the site.
A report by CB Insights said Tokopedia’s valuation is estimated to be around $1 billion, making it one of only four unicorns — startups with a valuation of at least $1 billion — in the region. Two of them are in Singapore and one in Thailand.
Most of the Asian unicorns are based out of China, which has 18 of them, followed by India with nine.
SimilarWeb ranks Tokopedia the eighth most popular website in Indonesia, beating Twitter and Wikipedia. App Annie named Tokopedia top shopping Android app based on its monthly active user count in February 2016. It is also the most visited local site in Indonesia.