Indonesia's Bukalapak gets investment from South Korea's Shinhan, says valuation $2.5 billion

Indonesian e-commerce firm Bukalapak on Friday said South Korea's Shinhan Financial Group Co Ltd joined its latest fundraising round that valued the startup at over $2.5 billion. Bukalapak did not disclose the amount it will receive through Shinhan's investment banking unit Shinhan GIB, nor the size of the stake Shinhan would gain. Other participants in Bukalapak's closing Series F fundraising included Indonesian media conglomerate Emtek, a long-time backer, the e-commerce firm said in a statement.

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