Secretly, Tokopedia Receives Fresh Funds From A Singapore BUMN Company

Tokopedia Application (Tachta Citra Elfira / VOI)

JAKARTA - The business and economic sectors have not fully normalized from COVID-19. In the midst of this uncertain condition, Tokopedia, which recently received fresh funds from a state-owned company from Singapore, Temasek.

Summarized from the Kontan page that launched DealStreetAsia, Thursday, June 25, Tokopedia received fresh funds of around 500 million United States (US) dollars or the equivalent of IDR 7 billion in an exchange rate of IDR 14,265. Where previously, Tokopedia had also received an injection of funds from Softbank and Alibaba.

With this fresh fund, of course, it will increase Tokopedia's capital valuation to US $ 7.5 billion. Tokopedia itself is known to have more than 8.3 million sellers and more than 90 million active users each month.

Tokopedia itself has now become the largest marketplace company in Indonesia and is competing with several other unicorn startups, such as Bukalapak, Lazada and Shoppe. Another competitor in this business is JD.ID, which recently rose in the rankings after getting a fund valuation of 1 billion US dollars.

These companies have driven large numbers of people and beneficiaries of Indonesia's e-commerce boom. According to the Asia-Nikkei report, Indonesia's e-commerce market will be worth a total of US $ 82 billion by 2025, meaning that nearly two-thirds of the country's revenue will come from the digital economy.

Despite receiving a large injection of funds again, Tokopedia is currently being hit by the issue of user data leakage. Where 91 million user accounts have been leaked online and traded on hacker forums.

The company is investigating the matter and has said it has since confirmed that "important information such as passwords remain successfully protected behind encryption," said Tokopedia.