Shinhan GIB, the investment banking unit of South Korean financial group Shinhan Financial Group, today announced its involvement in the Series F funding round for Indonesian e-commerce unicorn Bukalapak.
The funding round also included the participation of existing investors such as Emtek Group and other global institutional investors.
Though the value of the company’s investment was undisclosed, a press statement by Shinhan GIB said that the close has brought Bukalapak’s valuation to surpass US$2.5 billion.
The statement also said that the Series F round will allow Bukalapak to execute its long-term plan and business strategy, which included the promotion of financial inclusion.
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