Bukalapak operates an e-commerce marketplace serving merchants and customers across Indonesia. Launched in 2010, the company claims more than 100 million users and was last valued at US$2.5 billion in 2019. The business recently raised US$234 million in a fresh funding round led by Microsoft, GIC and Emtek, with SC Ventures, Naver and BRI Ventures also participating. BRI Ventures’ strategic investment enables its parent, Bank BRI, to offer digital banking and lending products to merchants and customers on the Bukalapak platform. Bukalapak has engaged Mandiri Sekuritas to assist with a planned listing in Indonesia and has said it would look to merge with a US SPAC should that local listing materialize. Founded in 2010 and valued at about $1 billion, Bukalapak operates a large Indonesian marketplace offering consumer retail and services. The platform claims roughly two million orders per day and 50 million registered users. Its seller ecosystem covers products from four million SMEs, 500,000 kiosk (warung) vendors and 700,000 independent micro-businesses. Bukalapak has pushed partnerships with local warung kiosks to differentiate from competitors and deepen offline-to-online reach. Beyond its core marketplace, the company also offers streaming and fintech products. It plans to grow opportunities for SME retail partners and build out its technology platform, including digital services such as insurance and a mobile wallet.

Total raised

$284M

Funding rounds

2

Latest round

Equity

Latest activity

Apr 2021