Linkaja Bags US$100mn Investments from Grab, Telkomsel, Others

TEMPO.CO, Jakarta - LinkAja announces strategic investments from Grab on Tuesday, November 10. Grab leads the series B funding stage as a minority shareholder.

This is the first time LinkAja has received investment from a private company. Simultaneously, this funding was also carried out by Telkomsel, BRI Ventura Investama and Mandiri Capital Indonesia.

"We are very enthusiastic about Grab's participation as one of our shareholders," LinkAja president director Haryati Lawidjaja in a written statement, Tuesday, November 10.

The funding agreed on a total commitment of up to around US$100 million. Strategic investments from Grab include various synergies and broad potential collaborations for the two parties, both in terms of ecosystem access and technology, which are expected to accelerate and increase financial inclusivity in Indonesia.

Haryati welcomes collaboration opportunities for investors and other partners from various sectors, with a similar vision and mission to improve the welfare and independence of Indonesians through fast-tracking financial and economic inclusion.

Meanwhile, Grab Indonesia managing director Neneng Goenadi said the company chose to invest in LinkAja to join forces in achieving the goal of accelerating financial inclusion in Indonesia.

Read: TransJakarta, LinkAja Boost the Use of Digital Payments Amid Pandemic

Caesar Akbar