LinkAja, a financial technology applications owned by state-owned enterprises, announced a strategic investment from GoJek, a payment and on-demand service platform, part of the Series B funding round - Photo by the Company

JAKARTA (TheInsiderStories) – LinkAja, a financial technology applications owned by state-owned enterprises, announced a strategic investment from GoJek, a payment and on-demand service platform, part of the Series B funding round. Last year, ride-hailing startup giant, Grab, has joined in the Series B funding round of the company.

“We are very pleased that Gojek has joined us as a shareholder, following the investment made by other leading LinkAja shareholders in the Series B fundraising,” said Haryati Lawidjaja, CEO of LinkAja in a written statement released on Tuesday (03/09).

With the new capital, the provider now has a total commitment more than US$100 million. She continued, after the transaction, the two companies aimed to strengthen the adoption of digital financial services and accelerate financial inclusion in Indonesia.

As part of the partnership, LinkAja will expand the payment method options for certain services on the GoJek application in Indonesia. By combining the strengths of these two national companies, she claimed, will create a cashless payment experience for the various needs of users in complementary market segments.

Currently, LinkAja platform is mostly focused on payments for retail purchases, public services and daily necessities with 80 percent of the users coming from Tier 2 and Tier 3 cities in Indonesia. While, GoPay served the retail and business sector in Indonesia, especially for micro, small and medium enterprises.

“Through this strategic partnership, we hope to have a bigger and wider impact on the Indonesian economy,” adds by Andre Soelistyo, co-CEO of Gojek.

In this fundraising Credit Suisse acted as exclusive placement agents. LinkAja is a digital wallet under PT Telekomunikasi Selular (Telkomsel) owned 25 percent, PT Bank Mandiri Tbk (IDX: BMRI) hold 19.71 percent, PT Bank Rakyat Indonesia Tbk (IDX: BBRI ) of 19.71 percent, PT Bank Negara Indonesia Tbk (IDX: BBNI) of 19.71 percent, PT Bank Tabungan Negara Tbk (IDX: BBTN) of 7.12 percent, PT Pertamina of 7.12 percent, PT Asuransi Jiwasraya one percent, and PT Danareksa 0.63 percent.

In 2019, the shareholders has injected to the operator of the digital money, PT Fintek Karya Nusantara (Finarya), with a total value of Rp1.65 trillion ($114.58 million). Then, in the second phase worth of Rp186 billion. Finarya is  established by Telkomsel and other SOES on Jan. 21, 2019. Now LinkAja brand and has 56 million users.

US$1: 14,200

Written by Staff Editor, Email: theinsiderstories@gmail.com