Indonesia’s KinerjaPay Gets Investment US$200M from Wahana Group

Management of KinerjaPay - Photo: Special
JAKARTA (TheInsiderStories)KinerjaPay Corp., an Indonesia’ payment and e-commerce provider, received an investment worth of US$200 million from local company, PT Investa Wahana Group. The funds divided into two series, $100 million are Series F funding rounds and the other $100 million are G Series Convertible Preferred Stock.
It said, the fresh funds will used to improve the company’s business like acquisitions and strategic investments to enter a new business lines. Recently, Kinerjapay said ready to launch its own indigenous application for micro lending business with peer-to-peer platform to facilitate credit facility in Indonesia.
Furthermore, the start up company plans to allocate a portion of the proceeds to buy back KinerjaPay shares on the open market, in accordance with the rules and regulations of the United States’ Security and Exchange Commissions.

The company also has has announced to acquire data center & business services provider PT Kinerja Indonesia. The acquisition positions the company to launch its services into Vietnam and Thailand.

KinerjaPay has a strategic plan in 2019 which is entering the prepaid, peer to peer lending mobile business line–KFUND was launched September 2018, mobile payment solutions, online gaming, and e-commerce services that will begin in Indonesia. The company is possible to invest in similar industries in other countries.
Previously in the period of 2016 to 2018 KinerjaPay already had several business lines, including KinerjaMall, KinerjaTravel, KinerjaGames, KinerjaFood, to peer to peer lending KFUND services.

KinerjaPay‘ mainly target consumer sector to provide micro lending facility in the range of $100 to $1,000 on biweekly or monthly term loans. As facilitator of the lending facility, the company will earn up to 5 percent fee from an estimated 1,000 transactions for the few months after its launch.

Kinerja Indonesia is one of many IT companies in Indonesia based in Medan, North Sumatra. Established in 2007 with a mission to tap into the ever-expanding opportunities posed by rapid growth of Internet users in Indonesia. The company has many businesses including data center, web hosting and development, network solutions, e-wallet and games.

KinerjaPay announced in 2017, total transactions grow 192 percent to 615.308 versus 320.224 total transactions reported in 2016. Total average revenue per user for the year was US$20.82, a 177 per cent increase from the $7.51 in 2016. Otherwise gross merchandise value was$2.84 million, up 328 per cent compared with $661,623 in 2016.

So far, the company has build partnership with three multi-finance companies inIndonesia namely Columbia Cash & Credit, PT Mega Auto Finance and PT WOM Finance to cover 1.5 their million active customers and 300 cities.

KinerjaPay also has partnership with Indonesian convenience store chain Alfamart and Indomaret to allow customers make payments on any transaction performed inside KinerjaPay platform.

Furthermore the company partnership with PT. 24 Jam Online, parent company of UniPin, one of Indonesia’s leading gaming platforms. Then, with Ace Legends, Singapore-Based Developer to support the launch of KinerjaGames.

Last year, the company also announced its initial coin offerings (ICO) sale plan. KinerjaPay is planning to raise up to $5 million from its impending ICO.

KinerjaPay urged will further extend its reach into e-commerce in the international market with the addition of multiple supplementary platforms, such as KryptoMall and KryptoGames, to its collection of crypto-based platforms.
In August 2017, KinerjaPay expands its digital e-commerce platform with the launch of KinerjaGames. The Company has entered a long-term License Agreement with Ace Legends Pte. Ltd., a Singapore-based game developer.
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