Warung Pintar Receives 57 Billion Rupiah Fresh Funding

Warung Pintar announces the acquisition of fresh funding worth $4 million (around IDR 57.9 billion) from Vertex Ventures, Pavilion Capital, and Line Ventures. It will be Warung Pintar's new arsenal to accelerate business in order to improve the quality of Jakarta's kiosks and encourage the inclusion of micro business technology. The average monthly income of a kiosk partner is claimed to reach IDR 4.17 million or 15% higher than the minimum wage in the Greater Jakarta.

Previously, in February, Warung Pintar has acquired $4 million seed funding. In six months, the kiosk has increased more than 3000% from 12 to 319 kiosks. There are 12 thousand potential partners claimed to register. Earlier this month, Warung Pintar has announced a partnership with Go-Jek to receive Go-Pay as a cashless payment.

"We continue to innovate and listen to what customers and kiosk partners need so that the technology we develop is accessible and easy for them to use. We keep trying to solve the daily hyperlocal problems of these kiosks with the latest technology and global knowledge related to the products. Therefore, we're building the engineering team based on a strong technical knowledge and a big heart for Indonesians," Sofian Hadiwijaya, Warung Pintar's CTO, added.

In the previous interview, Warung Pintar mentioned that they use partnership system with anyone from the low-to-mid class. It only requires selection process and data verification before the kiosk open. One of those is to have space (owned property or rent) to build a kiosk.

Warung Pintar will rent the facilities as Wi-Fi, LCD TV, CCTV, the kiosk, dispenser, mini-refrigerators, stoves, and digital system as its first assets without monthly fees. The company doesn't take fees as monetization from kiosk owners.

"Warung Pintar is truly born of the problems before our own eyes without we realize. We are confident and eager to bring financial inclusion to people without bank accounts (unbanked population) by providing them financial and additional income," Willson Cuaca, East Venture's Managing Partner and Warung Pintar's Commissioner, said.

– Original article is in Indonesian, translated by Kristin Siagian