The round will also see participation from Sequoia Capital and existing shareholder SB Pan Asia Fund.
Nikesh Arora, Vice Chairman of SoftBank and CEO of SIMI said, “We are very pleased to be working closely with Tokopedia. In the Asia region, the growth potential for online marketplaces particularly stands out in Indonesia, and since its founding, Tokopedia has seen remarkable growth with its innovative business model. Leveraging synergies with our network of Internet businesses, we are confident we can help Tokopedia’s success in the Indonesian market.”
With this new capital, Tokopedia will focus on customer acquisition, hiring, and other initiatives to further strengthen its position, said an official release.
SIMI and Sequoia Capital representatives will join the company’s board of directors.
Shailendra Singh, Managing Director, Sequoia Capital India Advisors said, “We are incredibly impressed with William’s (CEO of Tokopedia) vision for Tokopedia, and the progress that the company has made in connecting buyers and sellers in a seamless and trustworthy marketplace in Indonesia. We are delighted to partner with the Tokopedia team and investors, and look forward to working with them in building a leading Internet company for the future.”
This investment is expected to close in mid-December 2014, subject to certain conditions.
“I’m very excited to welcome SIMI and Sequoia Capital as our new shareholders. I look forward to learning from them and taking Tokopedia to the next level,” said William Tanuwijaya, CEO, Tokopedia.