Indonesia’s KinerjaPay collects $200m funding
Indonesia-based KinerjaPay has received a signed commitment from PT. Investa Wahana Development (Wahana Group) to invest $200 million in its paytech ambitions.
Firm will expand into P2P lending and mobile payments
Wahana will subscribe for $100 million in shares of the company’s Series F round and an additional $100 million in shares of its Series G convertible preferred stock.
Edwin Witarsa Ng, KinerjaPay CEO, explains: “In 2019, the company will expand into prepaid mobile business, P2P lending, mobile payment solutions, online gaming, and e-commerce services initially in Indonesia’s growing economy and expanding in SE Asia.”
According to KinerjaPay, it also plans potential acquisitions and use some of the funding to repurchase KinerjaPay’s stock in the open market.
Rio Chandranegara, business development at Wahana Group, adds that while KinerjaPay is one of the “leading digital market players in Indonesia, it is also a US company which trades in the world’s most liquid market in the US”.
KinerjaPay was founded in 2010, but was incorporated as a US public company in February 2016.
