The investment will consist of several tranches over a 12-month period
Indonesian B2C e-commerce platform MatahariMall today announced an equity round of US$100 million led by Japanese conglomerate Mitsui & Co, with participation from undisclosed new and existing investors.
The investment will consist of several tranches over a 12-month period.
MatahariMall stated that the proceeds will be used to grow market share and solidify “its position as the leading O2O e-commerce player.”
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“MatahariMall.com has grown tremendously over the past year,” said MatahariMall Chairman Emirsyah Satar in a press statement. “This round of funding shows the confidence and optimism investors have in MatahariMall.com’s market leadership and long term potential in Indonesia. Mitsui’s expertise and track record in technology and logistics will help boost the Company’s growth plans.”
Prior to this investment, Mitsui and Lippo Group had fostered several partnerships and investments in the Indonesian technology and media space, including 4G internet service provider Bolt, direct-to-home pay TV service BIGTV, and an 80,000 square meter data centre.
Lippo Group itself has been actively foraying into Indonesia’s digital space with the launch B2B e-commerce platform Mbiz, venture capital investment Venturra Capital, and an investment into Southeast Asian ride-hailing giant Grab.
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Lippo Group Chairman Mochtar Riady had also told Bloomberg about plans to enter the fintech space.
As for Mitsui Group, it has invested in several e-commerce companies including Japanese C2C marketplace Mercari and Indian tele-shopping and e-commerce venture Naaptol.
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