DANA, a digital wallet-based financial technology company in Indonesia, announced Wednesday the close of the latest investment from Indonesian conglomerate Sinar Mas and leading e-Commerce company Lazada Group.

This latest investment is a testament to the two new investors’ trust and conviction in DANA’s vision, strategy, and its pivotal role in advancing financial inclusion and literacy in Indonesia for the masses, DANA said in a statement.

With the strong support of new local and regional investors such as Sinar Mas and Lazada Group, along with the continuing and unwavering support of EMTEK Group and Ant Group, DANA said it is well positioned to accelerate the growth of its open ecosystem platform supporting the rapid digitalization of Indonesia.

“We are very proud to have Sinar Mas and Lazada Group join DANA as shareholders, alongside our very supportive existing shareholders EMTEK Group and Ant Group. We are confident that DANA’s strong fintech platform will give a lot of strategic value to our valuable investors to drive our efforts in realizing our vision for a financially inclusive, financially literate and cashless society in Indonesia,

“The support provided by all shareholders will certainly strengthen us as we continue improving the digital financial services that DANA provides for all Indonesians and in accelerating financial literacy and inclusion to encourage national economic growth. We believe this investment is part of the business development that will prepare DANA for the next phase of growth,” said Vince Iswara, Chief Executive Officer and Co-Founder of DANA Indonesia.

DANA is a digital wallet-based financial technology company that provides payment infrastructure and financial services in Indonesia. Since launching its application in December 2018, it has now reached over 115 million users in Indonesia.

DANA provides safe, easy, and convenient end-to-end digital transaction solutions for users, merchants and financial institutions. Its solutions, developed by Indonesia’s leading FinTech engineers, aim to advance and accelerate financial inclusion and literacy in Indonesia. In addition to digital financial empowerment, it strives to empower communities in Indonesia through impactful social initiatives focusing on women empowerment and environmental conservation.

“Our investment in DANA marks the start of a strategic, continuous collaboration between Sinar Mas and DANA. We are pleased to be investor in the leading digital wallet in Southeast Asia and are optimistic that the collaboration with DANA will bring added value to Sinar Mas’ digital ecosystem,

“Collaboration between DANA and Sinar Mas’ various business lines will ultimately boost the digital acceleration in Indonesia. We look forward to collaborating with DANA to provide positive impact in business digitalization in Indonesia especially on financial inclusion for every Indonesian,” said Franky Oesman Widjaja, Chairman of PT Dian Swastatika Sentosa Tbk.

According to the statement, DANA’s new investors will be able to benefit from DANA’s technology, its leading integrated payments, and its financial services platform, while continuously improving and expanding its financial lifestyle services for consumers and merchants in partnership with financial institutions.

The firm is committed to remaining an open ecosystem platform for payment solutions and financial lifestyle services, which is necessary for greater financial inclusion. Supported by such a strategy, it is on track to more than double its total payment volume or gross transaction value in 2022 compared to 2021.

“With an increasingly digitalized landscape in Indonesia and Southeast Asia, improving access to financial services and providing more payment options for both businesses and consumers are crucial developments. Even as Lazada remains focused on eCommerce, we see ourselves playing a key role in building technology, logistics and payments infrastructures that will benefit the region for the long term. Our investment in DANA represents a strategic move in the right direction,” said James Dong, Chief Executive Officer of Lazada Group and Lazada Indonesia.

DANA also remains actively engaged and open for investment and partnership opportunities to selected potential investors who have conviction in DANA’s vision and mission to accelerate financial literacy and inclusion in Indonesia.

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