bukalapak_funding_news

Indonesian e-commerce startup Bukalapak has raised a new funding round which is claimed to put the company into unicorn status.

First reported by Tempo on Thursday, Bukalapak CEO Achmad Zaky said that the company has reached over US$1 billion valuation following an undisclosed funding round.

Zaky declined to share the identity of the investors; he hinted that they were of local investors by stressing that the company “will not fall into the hands of foreign [investors],” though he also stated that it will remain open to foreign investment.

“The point here is that we want to take advantage, instead of being taken advantage of,” he said.

e27 is reaching out to Bukalapak to get more details of the funding round.

Also Read: Bukalapak spills the secrets to building a high-performing mobile development team

Prior to this, the company’s latest funding round was an undisclosed Series B funding round in February 2015.

Indonesian media and tech mogul Emtek Group is known as its biggest shareholder with 49.21 per cent ownership of the company. The group has set up a joint venture with Ant Financial to launch Blackberry Messenger-based mobile payments service in Indonesia.

Bukalapak also has 500 Startups, GREE Ventures, and QueensBridge Venture Partners as investors.

The funding round will launch Bukalapak’s position into the fourth unicorn company in Indonesia, following Go-Jek, Traveloka, and its head-to-head competitor Tokopedia.

All three unicorns have received investments from Chinese internet giants such as Alibaba (Tokopedia), JD (Traveloka), and Tencent (Go-Jek), as their pathway to enter the lucrative Indonesian market.