Warung Pintar Announces Series B Funding Worth of 390 Billion Rupiah
Funding is raised from previous investors, supported also by Ovo
Randi Eka - 21 January 2019
A startup of “new retail” platform developer, Warung Pintar, today (1/21) announced series B funding worth of $27.5 million, equivalent with 390 billion rupiah. Funding was acquired from the previous investors, SMDV, Vertex, Pavilion Capital, Line Ventures, Digital Garage, Agaeti, Triputra, Jerry Ng, and EV Growth. Participated also in this round, digital wallet developer under Lippo Group, Ovo.
Previously, Warung Pintar has received seed funding worth of 55 billion rupiah in early 2018. Later on, in the mid-year, they announce advanced funding worth of 57 billion rupiah. In 2018, the startup under East Venture has more than 1150 kiosk partners in all over Jabodetabek. Some strategic partnerships are held, with Ovo, Go-Pay, and Flock.
Agung Bezharie Hadinegoro, Warung Pintar’s Co-Founder and CEO said the company has vision to be a “golden standard” for micro entrepreneurs in Indonesia. Until now, Warung Pintar has increased partners income up to 41%.
OVO’s CEO, Jason Thompson added, Warung Pintar’s proposition resonates with OVO’s main focus to empower SMEs in Indonesia, it’s an important part of financial inclusion.
As Warung Pintar‘s Chairman, Willson Cuaca emphasized on the startup, as one with fastest development in East Ventures’ portfolio. The funding round is considered to close very fast.
Warung Pintar, after this round, intends to expand kiosk up to 5000 units in 2019. They’ll also expand network outside Jabodetabek, starts from Banyuwangi.
Original article is in Indonesian, translated by Kristin Siagian