Regarding Acquisition Rumor, Bareksa Confirms the Ongoing Process to Raise Series B Funding

DealStreetAsia, today, has reported Ovo's potential acquisition over Bareksa. Acquiring an online based investment platform might be the logic step for emoney platform to gain users and increase managed funds. However, both companies avoid to mention any information regarding this rumor.

Karaniya Dharmasaputra, Bareksa's Co-Founder and CEO said to DailySocial, "The thing we agreed on to date is Bareksa-OVO partnership [announced last March] to make new innovations through synergy of e-money and e-investing in Indonesia."

"Regarding investment, Bareksa is in its second fundraising [Series B] and in an intensive discussion with some potential investors. It'll be used to scale up and expand Bareksa's business and penetration," he said

We try to confirm with Ovo team and received similar answer. Although, a party revealed the acquisition process is already ongoing. Ovo is previously rumored to acquire Taralite financing platform.

Bareksa is currently in a strategic partnership with two popular marketplace platforms, Bukalapak and Tokopedia, to speed up the mutual fund access for public. According to the Indonesia's Association of Investment and Mutual Fund Consumer (APRDI) per December 2018, there are 995 thousand mutual fund investors registered and to be reached 1.49 million this year with managed fund (AUM) up to Rp565-580 trillion.

– Original article is in Indonesian, translated by Kristin Siagian