(Reuters) – Indonesian e-commerce company Tokopedia on Wednesday said it secured $1.1 billion in the latest funding round led by SoftBank Group Corp’s (9984.T) Vision Fund and Alibaba Group Holding Ltd (BABA.N).
Tokopedia plans to use these funds to invest in technology and infrastructure, it said, adding that the company will continue to focus on the Indonesian market and drive economic development and financial inclusion in the country..
Alibaba in 2017 had led a $1.1 billion investment in Tokopedia, adding to its expanding network of assets.
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