[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."
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