SoftBank Ventures Asia has led the $30 million Series A funding round in OY! Indonesia. MDI, Pavilion Capital, AC Venture, CCV, Wavemaker, PT SAT, Saison Capital Pte. Ltd., and Orion Advisors (DST Founders) also participated in the round that had a valuation of around $100 million.
OY! Indonesia is a Fintech that provides a payments and transfer bridge for both online and offline payments including businesses, individuals, banks, and more.
Since launch in 2018, OY! Indonesia reports that it has grown rapidly by helping businesses to send and receive money both digitally and offline (cash)- providing convenience to customers when performing various financial transactions.
Jesayas Ferdinandus, CEO of OY! Indonesia, said they are experiencing tremendous growth:
“We believe that this growth must be guided by the commitment to realize the vision of OY! Indonesia as the best and the most comprehensive money movement aggregator infrastructure provider in Indonesia.”
Cindy Jin, Partner at SoftBank Ventures Asia, said:
“We thought that money movement not only represents a huge market opportunity but also improves financial inclusion across Indonesia. Therefore, we valued what Oy has built, financial infrastructure across multiple online and offline payment methods.”
To date, OY! Indonesia reports one million active users.
