Indonesian E-commerce Solution Startup 'Codebrick' Secures $12 Million Investment

[Asia Economy Reporter Kim Cheol-hyun] Codebrick, led by CEO Bang Kyung-min, which operates the e-commerce solution service 'Tokotok' locally in Indonesia, announced on the 28th that it has secured a Series B investment totaling USD 12 million (KRW 13.2 billion).

The investment included existing shareholders Altos Ventures, Bon Angels Venture Partners, Pearl Abyss Capital, Prodigy Investment, as well as SBI Investment, Singapore-based Guardian Fund, and The Wells Investment.

Based on this investment, Codebrick plans to focus on solidifying its position as a leading company in Indonesia's e-commerce service sector. In the long term, it is preparing to expand into a chain platform that connects all processes of commerce, from purchasing, payment, delivery, to service. To this end, Codebrick has recruited CTO Yoon Se-hoon, former head of EA Asia development, and is making every effort to attract talent in various fields both in Korea and locally.

Tokotok is a one-stop commerce platform specialized for social media (SNS) such as Instagram, Facebook, and WhatsApp. It offers buyers convenient one-stop functions from product search to payment, delivery, and purchase consultation, while providing sellers with customer and product management services specialized for SNS commerce.

Bang Kyung-min, CEO of Codebrick, said, "By enhancing convenience features for sellers, we aim to achieve monthly transactions of KRW 30 billion within a year and dominate the social commerce platform market in Indonesia," adding, "Based on our technological capabilities and execution power, we are preparing to expand services to Vietnam and Thailand."

This content was produced with the assistance of AI translation services.