“We are going to keep investing in our technology, which has been our greatest strength and one of the biggest drivers of our growth and for financial services,” Iswara said in a video interview from Jakarta.
Dana, one of Indonesia’s biggest digital wallet providers, has raised US$250 million ($342.5 million) from local conglomerate Sinar Mas and Alibaba Group Holding Ltd.’s Lazada Group to expand in its home country.
The five-year-old company will use the funds to invest in new tech and roll out more financial services in one of the world’s fastest-growing fintech markets, Chief Executive Officer Vince Iswara told Bloomberg News. The value of digital payments in the country has already exceeded both credit and debit card transactions in Indonesia, according to Bank Indonesia data.
