OnlinePajak Secures Series B Funding, Worth of 379 Billion Rupiah
Focused on blockchain and artificial intelligence-based feature development
Randi Eka - 25 October 2018
OnlinePajak just announced Series B funding worth of $25 million (around 379.6 billion Rupiah). It was led by Warburg Pincus supported by Global Innovation Fund (GIF) and Endeavor Catalyst. The previous investors, Alpha JWC Ventures, Sequoia India, and Primedge have also participated in this round.
Charles Guinot, OnlinePajak's Founder & CEO, said that this funding was a validation of the current business model. Funding will be used for tax compliance revolution with blockchain and artificial intelligence-based technology.
"We plan to accelerate our ability expansion to always help taxpayers. We will transform the easy business in this country by helping companies to prove their productivity, and to support the Directorate General of Taxes to manage state's taxation," he added.
Founded in 2015, OnlinePajak displays a web-based integrated app to be used by taxpayers to calculate, deposit, and tax report. It's intended for personal or institutional use. Previously, OnlinePajak has received Series A funding at the end of 2017 led by Alpha JWC Ventures.
"We believe OnlinePajak has a great potential to grow, not only in helping Indonesia's business industry to have the more efficient operation but also having an important role for realizing the vision of Indonesian government to expand state tax base," Warburg Pincus' Head of Southeast Asia, Jeffrey Perlman, said.
OnlinePajak became the first tax startup which already implemented blockchain technology. Since the launching in 2015, OnlinePajak has been trusted by more than 900,000 users.
– Original article is in Indonesian, translated by Kristin Siagian