Indonesian social commerce platform TokoTalk raises US$3.2M
Indonesian social commerce platform TokoTalk today announced a US$3.2 million in funding from Silicon Valley-based Altos Ventures.
Owned by South Korean tech startup Codebrick, TokoTalk is a chat-based e-commerce platform built specifically for online sellers on social media such as Instagram and messenger platforms such as WhatsApp.
According to Indonesia’s Ministry of Finance, 64 per cent of all e-commerce transactions occurred through social media. The TokoTalk platform aims to make this process more simple through integration of its service with various social media platforms.
With TokoTalk, customers can view catalogues, pay for orders, as well receive order and shipping confirmation.
For the sellers, TokoTalk offers a platform that enables simpler order and inventory management through the use of a chatbot.
In a press statement, the startup said that it plans to “strengthen” its features, particularly payment processes and marketing tools.
“Those improvements are hoped to lead to an increase in the number of transactions, up to US$20 million per month in orders and being a significant player in the social commerce platform market in Indonesia,” it wrote.
Launched in March 2018, TokoTalk claimed to have more than 100,000 online sellers on board.
It has recorded US$2 million in monthly sales in March 2019 which resulted in a US$10 million order transaction for one year after its launch.
In Indonesia, the TokoTalk operations is led by Director of Operations Nesya Vanessa.