KinerjaPay, a digital payment and e-commerce platform, announced that it has received US$200 from PT. Investa Wahana Group, Indonesia, divided into US$100 million in shares of the Company’s Series F and and another US$100 million in shares of the Company’s Series G Convertible Preferred Stock.
The payments firm, will utilise the proceeds to fund their peer-to-peer lending operations, potential acquisitions and strategic investments in Indonesia as part of their 2019 expansion plans. The company also plans to allocate a certain portion of the subscription proceeds to repurchase KinerjaPay’s stock in the open market.
It is looking to expand into prepaid mobile business, P2P lending, mobile payment solutions, online gaming, and e-commerce services initially in Indonesia, and later across Southeast Asia. Additionally, the company intends to make investments in certain related industries in other foreign countries.
KinerjaPay’s use of proceeds are to fund the Company’s peer-to-peer lending operations, potential acquisitions and strategic investments in the Company’s home-based region as part of their expansion plan for 2019. The company also plans to allocate a certain portion of the subscription proceeds to repurchase KinerjaPay’s stock in the open market, subject to the rules and regulations of the SEC.
Featured image via Marquee Executive Offices
