Indonesia Now Has 7 Unicorns: Who Are They?

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28/07/2021 17:30 WIB

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There are currently seven unicorns in Indonesia. The newest addition to the country's unicorn club is OnlinePajak, with a valuation of US$1.7 billion, or approximately Rp 24.63 trillion (using an exc

Valuation of 7 Indonesian Unicorns (July 2021)

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Valuation of 7 Indonesian Unicorns (July 2021)

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A CB Insights report titled ‘The Complete List of Unicorn Companies’ shows that there are currently seven unicorns in Indonesia. The newest addition is OnlinePajak, with a valuation of US$1.7 billion, or approximately Rp 24.63 trillion (using an exchange rate of Rp 14,493/US$).

OnlinePajak achieved unicorn status on July 15, 2021, after the tax software-as-a-service (SaaS) startup secured a total of US$37 million in funding from eight investors.

Some of these investors include Warburg Pincus, Endeavour Catalyst, and the Global Innovation Fund. Existing investors such as Alpha JWC Ventures, Sequoia Capital, and Primedge also participated in this Series B funding round.

Gojek remains the only decacorn in Indonesia, with a valuation exceeding US$10 billion. J&T follows as a unicorn with a valuation reaching US$7.8 billion.

Tokopedia and Bukalapak are recorded as having valuations of US$7 billion and US$3.5 billion respectively. OVO's valuation is estimated at US$2.9 billion.

Editor : Dimas Jarot Bayu

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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