Indonesian payment aggregator OY! Indonesia announced that it has raised US $ 30 million (Rp. 443.2 billion) in a Series A financing round led by SoftBank Ventures Asia (SBVA).
The funding round was also joined by other prominent investors such as MDI, Pavilion Capital, AC Venture, CCV, Wavemaker, PT SAT, Saison Capital Pte. Ltd., Orion Advisors (Founders of DST).
OY! Indonesia said it will use the funds to take the company into the next phase of growth and expand its business in Indonesia.
Since it started operating in 2018, OY! Indonesia enables businesses of all scales to send and receive money both in cash and digitally, providing convenience to customers when conducting various financial transactions.
OY! Indonesia claims that it already has one million active users to date.
“We are currently enjoying tremendous growth with a total valuation of more than US $ 100 million or the equivalent of Rp. 1.4 billion, thus positioning OY! Indonesia as a startup that has successfully earned the title of Centauro.
We believe this growth should be driven by a commitment to realizing OY’s vision! Indonesia as the best and most comprehensive money movement aggregator infrastructure provider in Indonesia. ”
said Jesayas Ferdinandus, CEO of OY! Indonesia.
