DANA Announces New Investment 'Injection' From Sinar Mas Conglomerate Eka Tjipta Widjaja And Lazada Group

Illustration. (Photo: Doc. Antara)

JAKARTA - Digital wallet organizer, DANA, announced the completion of the latest investment transaction from Sinar Mas and Lazada Group. This is investment support that is believed to be able to boost DANA's business to double this year.

DANA Indonesia CEO & Co-Founder, Vincent Iswara, said the presence of Sinar Mas and Lazada Group followed the support of previous shareholders, namely EMTEK Group and Ant Group. He emphasized that DANA will provide strategic value to these investors.

"The support provided by all shareholders will certainly strengthen DANA, as we continue to improve the digital financial services that DANA provides to all Indonesians and in accelerating financial literacy and inclusion to encourage national economic growth. We also believe this investment is part of business development which will prepare DANA for the next phase of growth," Vincent explained in his written statement, quoted Thursday, August 11.

Chairman of PT Dian Swastatica Sentosa Tbk, Franky Oesman Widjaja, said the investment in DANA marks the start of a sustainable strategic collaboration between Sinar Mas and DANA. We are happy to be an investor in DANA and are optimistic that collaboration with DANA will bring added value to the Sinar Mas digital ecosystem.

"The collaboration between DANA and various Sinar Mas business lines will ultimately drive digital acceleration in Indonesia. We look forward to collaboration with DANA to have a positive impact on business digitization in Indonesia, especially for financial inclusion for every Indonesian," he said.

Lazada Group and Lazada Indonesia CEO James Dong, the digital landscape in Indonesia and Southeast Asia continue to grow. Increasing access to financial services and providing wider payment options for businesses and consumers is a very important development.

"Although Lazada remains focused on e-commerce, we see Lazada as playing an important role in building technology infrastructure, logistics, and payment infrastructure that will benefit Southeast Asia in the long term. Our investment in DANA is a strategic step in the right direction," said James.

DANA now has more than 115 million users throughout Indonesia. Since its launch at the end of 2018, DANA has succeeded and continues to grow in providing a safe, easy and convenient holistic digital transaction solution.

Supported by advanced technology and more than 900 employees, the majority of whom are Indonesia's leading financial technology engineers, DANA now processes an average of more than 10 million transactions daily. DANA is also received by more than 18 million merchants who are members of the national QRIS network and implement SNAP.

Based on data from Bank Indonesia (BI), digital payments have surpassed credit and debit card transactions as a means of payment, especially in terms of transaction volume, with a value reaching more than 16 billion transactions in 2021. Meanwhile, in terms of transaction value, digital payments also significantly surpassed credit cards at IDR 786 trillion (USD 54 billion) compared to IDR 245 trillion (17 billion USD) in 2021.

DANA is committed to continuing to be an open ecosystem platform in providing payment solutions and lifestyle-based financial services because it is necessary to achieve more massive financial inclusion. Supported by this more open strategy, DANA is expected to more than double in total payment volume or gross transaction value in 2022 compared to 2021.