Indonesian Targeting Startup Five Jack Attracts $1.5M Investment

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Five Jack received an additional investment of 1.5B KRW (approximately 1.5M USD) from various domestic and foreign investors including 500 Startups and K-Run Ventures. This investment follows the 2014 investment from Bonangels and the 2015 investment from 500 Startups. Five Jack has received a cumulative investment that amounts to 2.1B KRW.

Five Jack was established in Korea and Indonesia in 2013. Since then, the company has been releasing various services related to computer games. Five Jack currently manages a game commerce service “itemku” centered around Indonesian market. The company also released a game community service, “gokil,” for hardcore gamers last month.

Indonesia has an emerging ICT market where its e-commerce is rapidly growing supported by its 250 million population. Five Jack plans to expand into Southeast Asian market in parallel with its growth in Indonesia.

Five Jack CEO Kim SungJin stated, “Our company received good evaluations for its successful localization experience in the game market in Indonesia and Southeast Asia. Two of the most important metrics of the game field, which are trade volume and sales, grow 30% every month in these regions. We think these factors attracted more investors to our company.”

Head of the K-ICT Born2Global Center Kim JongGap stated, “Indonesian market is an emerging market with high potentials. Acknowledging this potential, our former member company Five Jack has successfully provided localized services.” He added, “K-ICT hopes the company expands beyond Indonesia and become the best game community of the Southeast Asian market.”

Inspired by Platum

Jiwon is a tech writer, software engineer, data analyst, and a fan of any new tech invention. He is currently studying Computer Science and Statistics at Johns Hopkins researching computer vision. He believes that tech is the new superpower of our time, and he wants to do anything to further its development. You can reach Jiwon at jiwon.shin@techforkorea.com

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