Tokopedia said in a press statement that it planned to use the funds to build technology and infrastructure that empowers millions of local businesses to grow to drive financial inclusion in Indonesia.

Tokopedia CEO and cofounder William Tanuwijaya said in its first nine years, Tokopedia focused on building Indonesia’s largest marketplace for physical and digital goods.

“Leading into our 10th year, Tokopedia is evolving our ecosystem to infrastructure-as-a-service where our logistics, fulfillment, payments and financial services technologies will empower commerce, both online and offline,” William said in the statement.

“This will broaden Tokopedia’s scale and reach while improving operational efficiencies for the millions of businesses and partners in our ecosystem.”

Tokopedia claims it serves nearly all districts across Indonesia and provides same-day delivery to 25 percent of its customers.

Lydia Jett, senior investor at SoftBank Investment Advisers and Tokopedia Board member, said Tokopedia had provided millions of consumers with access to more than 100 million products and would serve more as internet adoption continued to grow rapidly in the country.

Kenny Ho, head of investment, Southeast Asia and India at Alibaba Group, said Tokopedia’s service was in line with the company’s mission “to make it easy to do business anywhere.”

“We are excited to deepen our relationship with Tokopedia in enabling Indonesian small businesses and accelerating Indonesia’s economic development, he added.” (bbn)

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