Warung Pintar Secured US$27.5 Million in series B Funding for Various Investors - Photo by EV Growth

JAKARTA (TheInsiderStories) – Indonesia micro retail technology company Warung Pintar just announced that it had secured US$27.5 million in series B funding for various investors.

The investors including Indonesia’ financial technology provider OVO, SMDV, Vertex, Pavilion Capital, Line 1 of 6 Ventures, Digital Garage, Agaeti, Triputra, Jerry Ng, and EV Growth.

Co-Founder & CEO Warung Pintar, Agung Bezharie Hadinegoro said in a written statement on Friday (01/18), that Warung Pintar has significantly push mitra’ income up to 41 percent. The company will continue to strive in transforming micro-retail so can have more competitive advantage in the midst of the retail landscape and build a better economy.

Managing Partner of Vertex Chua Kee Lock, explained that Warung Pintar immediately touch their attention when they first heard about it. He said, “I believe Warung Pintar is well positioned to accelerate SMEs digital adoption in Indonesia. We proud to be part of this venture.”

As for CEO OVO Jason Thompson, Warung Pintar’s proposition resonates with OVO’s focus to empower Indonesian small and medium enterprises (SMEs) and enable micro-entrepreneurs as a critical part of the financial inclusion. This venture underlines OVO’s conviction to be part of Indonesian’s SMEs growth in the digital economy era.

Meanwhile, Jesslyne Widjaja from SMDV also shares her thoughts of how Warung Pintar’s digital transformation is well aligned with the group’s interest in playing a large role to revolutionize Indonesia’s digital economy.

Furthermore, Managing Partner EV Growth Shinichiro Hori expressed that the retailer shop is very unique in its use of technology to empower millions of micro-entrepreneurs across Indonesia. As EV Growth, the company excited to be part of Warung Pintar and the digital inclusion they are bringing to the underserved population.

Furthermore, chairman of Warung Pintar, Willson Cuaca said his honored to receive such overwhelming support by ecosystem stakeholders like product principal, local community, government, investors and warung owner.

Warung Pintar is one of the fastest growing startups within East Ventures portfolio and the round was close pretty fast. Hope that the new round will fuel the growth, adoption and most importantly, make a deep impact on society.

Since its first inception, Warung Pintar’s kiosks number has grown by 575 times within 12 months. In addition, Warung Pintar has shown to have 110 percent of Social Return On Investment.

It means every investment that startup gives to each Mitra will improve their life quality by 110 percent higher. It is indicated by their capability in providing children’s education, healthcare, socio-economic relationships among each other, the skill of entrepreneurship and other life quality improvement indicators.

One reasons all this growth are possible is because of to the hard work from all team whom we called AnWar (Anak Warung), refer to people who like hanging out in the shop.

Currently, they have more than 200 AnWars (and growing) with strong drive and passions in building a better economy for Indonesia. Together Warung Pintar, they continous leveraging the quality of technologies and services that the company can offer.

Starting from 2 kiosks on January 2018, Warung Pintar has more than 1,150 kiosks to date. Last December, Warung Pintar officially extended the business opportunity to the people of Banyuwangi regency in East Java and aiming more than 5,000 kiosks at the end of 2019.

Written by Daniel Deha, Email: theinsiderstories@hmail.com