Tokopedia bags $1.1bn investment from Alibaba Group

Indonesia-based online marketplace Tokopedia has raised an investment round of $1.1bn, led by Alibaba Group.

The investment also saw contributions from current shareholders. Following the investment Alibaba will become a minority shareholder in Tokopedia.

Founded in 2009, the company allows small and midsized businesses to set up and maintain their own online store. The free-to-use platform allows to sell their products across Indonesia.

This partnership will help the Tokopedia increase its scale and the offering it provider, as well as helping the sellers and partners to expand their business globally.

Following the latest funding round, total capital raised by Tokopedia has reached up to $1.3bn, with the company picking up $100m from Softbank and Sequoia Capital in 2014.

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