Jakarta –
One of Indonesia’s digital companies, Privy, will expand to Australia. Privy allocated 5 million Australian dollars or IDR 52.2 billion (exchange rate of IDR 10,459/ AUD 1) to set up an office and start operations in Australia.
Australia was chosen because it is an important market for the company’s global strategy and for exploring the application of its digital identity and digital signature solutions in a developed country context. Privy’s plans to expand to Australia are supported through its partnership with Katalis, a business development program supported by the Indonesian-Australian government, in the form of a market entry strategy.
“We are delighted and welcome the support of Katalis, who will provide invaluable insight and network regarding the Australian market. We are certainly optimistic that Privy’s technology is suitable for Australian businesses looking to significantly reduce transaction time and costs while enhancing privacy and security for consumers,” said Privy Marshall Pribadi’s CEO in a written statement, quoted on Sunday (22/1/2023).
By supporting Indonesian technology companies to invest in Australia, Katalis is realizing better market integration between the two countries for a new, inclusive economic partnership. This is as mandated by the Indonesia-Australia Comprehensive Economic Partnership Agreement.
Director of Catalysts Paul Bartlett said that Privy’s expansion to Australia brought mutual benefits for Australia and Indonesia. According to him, the introduction of digital identity and signature services will increase the efficiency and security of online transactions and document management systems on the Australian side.
“Privy’s expansion also bodes well not only for the company’s development, but also to increase confidence in the existence of partnership opportunities, protection and market access as stipulated in the Indonesia-Australia Comprehensive Economic Partnership Agreement,” he said.
For information, Privy has been established since 2016 in Indonesia. Since its establishment, Privy has offered a wide range of products enabling end-to-end enterprise solutions that have been proven to change and revolutionize business in Indonesia.
Meanwhile, Privy serves more than 30 million verified users and 2,800 enterprise consumers, and annually processes more than 40 million signatures. Privy is the first non-governmental institution to obtain a license as a PSrE (Certificate Authority (CA)) from the Indonesian Ministry of Communication and Informatics and has been registered with the Financial Services Authority (OJK).
(dna/dna)
