Grab Doubles Down in Indonesia With Investment in E-Wallet LinkAja and New Tech Center
Grab doubles down on Indonesia by leading a Series A funding round worth US$100 million in Indonesian e-wallet LinkAja and the establishment of a new Tech Center.
The funding round includes investments from Telkomsel, BRI Ventura Investama, and Mandiri Capital Indonesia. The funds will be utilised to accelerate LinkAja’s growth aspirations, focused primarily on the Micro, Small and Medium Enterprises (MSMEs) segments in Indonesia.
Commencing its commercial operations in June 2019, the LinkAja e-wallet was a result of synergy between leading Indonesian state-owned enterprises.