New Unicorn OVO Eyes Partnership with Government

TEMPO.CO, Jakarta - The president director of PT Visionet Indonesia or OVO, Karaniya Dharmasaputra, has announced that his corporate is eyeing a partnership with the government as its next plan after the digital wallet firm collaborated with e-commerce platform Tokopedia and ride-hailing app Grab Indonesia.

"We also want OVO to become a partner of the government. For example, the government says that they want to establish a data-driven government. Perhaps, [the ties will be on] how the government or other stakeholders use OVO to develop Indonesia in the future," said Karaniya at the National ICT Office, Jakarta, Monday, October 7.

Karaniya believed his company could achieve the unicorn title as it was adopting the principle of openness or the open system, as opposed to the closed one. "Collaboration is important, that is a principle that we hold firmly."

As a digital financial businessman that plays a quite significant role in the country, Karaniya affirms that he refuses to simply become an ordinary player in the e-money sector. He is determined to transform his company into a national strategic asset. In general, he opines financial industry players, especially fintechs, must become national strategic assets.

"Because such platforms as ours can be truly used and drive financial inclusion. The majority of OVO users have no bank account," Karaniya added.

Minister of Communication and Information Rudiantara earlier announced that OVO had snatched the unicorn status as the firm's valuation had exceeded over US$1 billion. At present, OVO's valuation is believed to have reached US$2.9 billion or Rp41 trillion, as CB Insight recorded per March 14, 2019.

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