Payments Firm OY! Indonesia Bags US$30 Million in Series A Led by SoftBankby Fintech News Indonesia September 23, 2021
Indonesian payments aggregator OY! Indonesia announced that it has raised US$30 million (Rp. 443.2 billion) in a Series A funding round led by SoftBank Ventures Asia (SBVA).
The financing 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 (DST Founders).
OY! Indonesia said that it will use the funds to take the company to the next growth phase and expand its business in Indonesia.
Since commencing operations in 2018, OY! Indonesia enables businesses of all scales to send and receive money both cash and digitally, providing convenience to customers when performing various financial transactions.
OY! Indonesia claims to already have one million active users to date.
“We are currently enjoying tremendous growth with a total valuation of more than US$100 million or equivalent to Rp. 1.4 trillion, thus placing OY! Indonesia as a startup that has successfully earned the title of Centaur.
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.”
said Jesayas Ferdinandus, CEO of OY! Indonesia.