Heaptalk, Jakarta — Indonesia’s Bukalapak (issuer code: BUKA) has announced a capital injection of approximately US$44 million, or about Rp656.6 billion, into 10 of its subsidiaries. The capital injection was disclosed in an affiliated transaction report submitted to the Indonesia Stock Exchange (IDX) on April 24, 2025. Bukalapak emphasized that the funding is aimed at enhancing the operational capabilities and financial standing of its subsidiaries across various business lines, which include digital infrastructure, fintech, and other technology-driven ventures.
The 10 subsidiaries receiving the capital include PT Buka Mitra Indonesia, which received Rp260 billion, followed by PT Buka Pengadaan Indonesia with approximately Rp 100 billion, and PT Buka Investasi Bersama with Rp 75 billion. Other subsidiaries, such as PT Buka Truk Indonesia, PT Buka Motor, and PT Buka Mobil, each received between Rp 15 billion and Rp 50 billion. Meanwhile, PT Buka Barang Indonesia, PT Buka Multi Commerce, PT Buka Pengembangan Indonesia, and PT Buka Logistik Teknologi received smaller injections ranging from Rp 1 billion to Rp 20 billion.
“The capital injection is meant to support each subsidiary’s working capital, ensure operational continuity, and improve their financial positions,” Bukalapak stated in its official disclosure. The company also clarified that the transaction is not expected to have a material impact on its consolidated financial position.
This move comes just months after Bukalapak officially ceased its physical goods e-commerce business, signaling a full pivot toward more scalable and sustainable digital services. CEO Willix Halim recently met with Indonesia’s Trade Minister to discuss the company’s evolving role in the country’s digital economy, emphasizing Bukalapak’s contribution through its merchant and financial platforms rather than traditional online retail.
Since its initial public offering (IPO) in 2021, one of Indonesia’s largest tech IPOs, Bukalapak, has undergone significant strategic shifts. The company initially gained popularity as one of the largest online marketplaces in the country, but increasing competition and mounting operational costs prompted a reevaluation of its core business.
In 2024, Bukalapak recorded a net loss of USD38 million and announced plans to lay off employees in 2025 as part of its efficiency measures. The discontinuation of its physical product sales arm marked a decisive turning point. Instead, Bukalapak has increasingly focused on monetizing its ecosystem through SaaS (Software as a Service) platforms, SME digitization tools, and fintech solutions for underserved markets.
