DANA raises funds from Sinar Mas and Lazada Group

By Leandra Monteiro

DANA, a digital wallet-based financial technology company that provides a platform for payments and financial services, announced the close of the latest investment from Sinar Mas and leading e-Commerce company Lazada Group.

The latest investment is a testament to the two new investors’ trust and conviction in DANA’s vision, strategy, and its pivotal role in advancing financial inclusion and literacy in Indonesia for the masses. With the strong support of new local and regional investors such as Sinar Mas and Lazada Group, along with the continuing and unwavering support of EMTEK Group and Ant Group, DANA is well positioned to accelerate the growth of its open ecosystem platform supporting the rapid digitalization of Indonesia.

Vince Iswara, CEO & Co-Founder of DANA Indonesia said, “We are very proud to have Sinar Mas and Lazada Group join DANA as shareholders, alongside our very supportive existing shareholders EMTEK Group and Ant Group. We are confident that DANA’s strong fintech platform will give a lot of strategic value to our valuable investors to drive our efforts in realizing our vision for a financially inclusive, financially literate and cashless society in Indonesia. The support provided by all shareholders will certainly strengthen us as we continue improving the digital financial services that DANA provides for all Indonesians and in accelerating financial literacy and inclusion to encourage national economic growth. We believe this investment is part of the business development that will prepare DANA for the next phase of growth.”

Franky Oesman Widjaja, Chairman of PT Dian Swastatika Sentosa Tbk said, “Our investment in DANA marks the start of a strategic, continuous collaboration between Sinar Mas and DANA. We are pleased to be investor in the leading digital wallet in Southeast Asia and are optimistic that the collaboration with DANA will bring added value to Sinar Mas’ digital ecosystem. Collaboration between DANA and Sinar Mas’ various business lines will ultimately boost the digital acceleration in Indonesia. We look forward to collaborating with DANA to provide positive impact in business digitalization in Indonesia especially on financial inclusion for every Indonesian.”

James Dong, CEO of Lazada Group and Lazada Indonesia said, “With an increasingly digitalized landscape in Indonesia and Southeast Asia, improving access to financial services and providing more payment options for both businesses and consumers are crucial developments. Even as Lazada remains focused on eCommerce, we see ourselves playing a key role in building technology, logistics and payments infrastructures that will benefit the region for the long term. Our investment in DANA represents a strategic move in the right direction.”

DANA remains actively engaged and open for investment and partnership opportunities to selected potential investors who have conviction in DANA’s vision and mission to accelerate financial literacy and inclusion in Indonesia.