Indonesian e-commerce firm Tokopedia plans to use the billion-dollar investment it secured last year to grow its core businesses and make the company "stronger" and more "robust," according to its associate vice president of financial technology, Samuel Sentana.
Tokopedia secured $1.1 billion from SoftBank's Vision Fund and Chinese e-commerce giant Alibaba in December last year, raising the Indonesian unicorn's valuation to $7 billion as of January. A unicorn is a start-up valued at more than $1 billion.
Speaking to CNBC's "Street Signs Asia" at the Money 20/20 conference in Singapore on Tuesday, Sentana said the money will be used to grow its four key businesses: financial technology and payment; logistics; online-to-offline commerce; and the marketplace and digital business.
"That $1.1 billion is going to be funded into these four core business to make the ecosystem even more stronger and robust, so that everybody can start to buy and sell everything, and can discover everything," Sentana said.