MORE FROM KrASIA

Bukalapak co-founder Fajrin Rasyid steps down, will serve as director at state telco

Rasyid co-founded Bukalapak in 2011 and developed it into a unicorn and one of the biggest online marketplaces in Indonesia.

Bukalapak co-founder and president director Fajrin Rasyid has been appointed digital director at the state’s largest telecom operator, PT Telkom Indonesia Tbk. He replaces Faisal Rochmad Djoemadi. A statement from the e-commerce provider confirmed that Rasyid has left the company.

“I am very grateful for the new mandate given to me,” Rasyid said. “In these 10 years together with Bukalapak, we have inspired young Indonesians to continue to dream and work hard. Now is the time for me to help Indonesia advance further, with a focus on developing Indonesian telecommunications, together with Telkom.”

Bukalapak CEO Rachmat Kaimuddin said he hopes that the concept of digitizing MSMEs, created by Fajrin and the other co-founders, will continue to be fundamental for the development of micro, small, and medium enterprises in Indonesia.

“I am sure Fajrin is the right person to occupy this position and he can continue his aspirations to contribute to Indonesia on a much larger scale,” Kaimuddin said.

At the age of 34, Rasyid has become the youngest director at Telkom. He will hand over his functional duties and responsibilities as president of Bukalapak to the board of directors.

Together with Ahmad Zaky and Nugroho Herucahyono, Rasyid co-founded Bukalapak in 2011 and developed it into a unicorn and one of the biggest online marketplaces in Indonesia. In 2019, Bukalapak was valued at over USD 2.5 billion, backed by global investors that include Indonesia’s EMTEK group, Singapore’s GIC, Ant Financial, Naver, and venture capital firm 500 Startups.

Rasyid acted as the chief financial officer prior to be appointed as president of Bukalapak. Before that, he worked at The Boston Consulting Group and was co-founder and CEO of digital agency Suitmedia, from 2011 until 2014.