Gojek disburses IDR 1.4 trillion in funds for LinkAja Pages all

KOMPAS.com – Startup companies (startup) ride hailing from Indonesia, Gojek disburse funds for digital wallets LinkAja, amounting to 100 million US dollars or around Rp. 1.4 trillion (exchange rate of Rp. 14,300).

Investation This is done through the issuance of Series B preferred shares. The CEO of LinkAja, Haryati Lawidjaja said, investation This will be used to expand the payment method options for certain services in the Gojek application in Indonesia.

That way, users can choose the option to pay using LinkAja when using certain services in the Gojek application.

Also read: LinkAja Officially Becomes a Payment Option on Gojek, Coming Soon to Grab

“Joining Gojek as a strategic shareholder will provide LinkAja access to the Gojek ecosystem to support LinkAja’s mission to accelerate financial inclusion in Indonesia,” said Haryati in a written statement received. Kompas.com, Tuesday (9/3/2021).

Meanwhile, CEO of Gojek, Andre Soelistyo explained that Gojek’s investment to LinkAja aims to increase financial inclusion by providing the public with the widest possible access to financial services. unbanked (do not have a bank account), and underbanked (have an account, but limited banking access) with LinkAja.

The collaboration between the two national companies will provide an opportunity to combine the technological strengths and broad reach of each company. In addition, there are opportunities to work together to increase the use of non-cash payments.

“With LinkAja as a strategic partner, we hope to reach more consumers and businesses of various business scales, as well as provide them with additional convenience and comfort in transactions,” said Andre.

To invest Grab

Interestingly, before Gojek injected investment into LinkAja, Gojek’s biggest competitor, Grab first disbursed funds to LinkAja. The investment value given is the same, namely 100 million US dollars.

Also read: Grab is said to be able to get IDR 28 trillion from an IPO in the US

The additional investment resulted from the series B funding round in November 2020 which was carried out together Telkomsel, BRI Ventura Investama, and Mandiri Capital Indonesia.

In the same month, Telkomsel, which holds most of the shares of PT Fintek Karya Nusantara (Finarya) which houses LinkAja, also announced its investment in Gojek of US $ 150 million (around Rp. 2.1 trillion).

With the disbursement of funds from two companies ride hailing the largest in Southeast Asia, LinkAja will benefit from reaching out to more users.

“LinkAja can have access to millions of users and the ecosystem of Grab and Gojek, which will complement and expand the use of LinkAja,” explained vice president of MDI Ventures, Aldi Adrian Hartanto. KompasTekno from Deal Street Asia.

Meanwhile, continued Aldi, Grab and Gojek can also penetrate more users, especially second and third tier cities.

According to a source who declined to be identified, the investment from Gojek and Grab into LinkAja is their second way to “secure” their relationship with the government.

Also read: LinkAja was Flushed with IDR 1.4 Trillion from Funding Led by Grab

“The LinkAja investment will help the two technology companies to secure relations with the government and environmental conditions.state of environment), “said the source.

Top 5 digital wallets in Indonesia

In 2020, LinkAja claims its users will increase by 65 percent, to more than 61 million users, of which 73 percent are mostly in second and third tier cities.
The value and volume of transactions has quadrupled compared to last 2019.

According to a report by research firm Ipsos in October 2020, LinkAja is one of the top five digital wallets with the highest penetration in Indonesia. ShopeePay has the largest user penetration, which is 48 percent.

Followed by OVO 46 percent, GoPay 35 percent, DANA 26 percent, and LinkAja 16 percent. ShopeePay is also the digital wallet platform with the largest transaction value in the third quarter of 2020.

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