Indonesia’s Digital Bank Super Bank The company said it would raise an additional 1.2 trillion Indonesian rupiah (US$73.3 million) from shareholders Grab, Singtel and KakaoBank.
The funding is intended to support the superbank’s efforts to improve services and innovate products to cater to the diverse financial needs and lifestyles of its customers.
Recently, superbanks First bank in Indonesia to serve millions of Grab users Partners can open an account, save and make payments directly through the Grab app, without the need for any additional applications.
Continued support from these key industry players, including Emtek Group, is expected to significantly strengthen Superbank’s growth and its role in driving sustainable development among Indonesia’s unbanked communities.
Mtech has the largest stake in Superbank with 34.58%, followed by Grab’s PT Kudo Teknologi Indonesia with 21.29% and Singtel Alpha Investments with 18.93%. Cocoa Bank 10%.
Tigor M. Siahan
Tigor M Siahan, Managing Director of Superbank, said:
“The continued support from Grab, Singtel and KakaoBank goes beyond investment to help accelerate our growth with the provision of their leading technology, insights and network assets.
This additional investment will strengthen our efforts to expand inclusive financial services and accessible financing to underbanked retail customers and small and medium-sized enterprises in Indonesia.”
Nenen Goenadi
Neneng Goenadi, Country Managing Director of Grab Indonesia, said:
“Grab understands the importance of providing digital banking technology that is easily accessible and comes with a range of innovative features to help consumers better manage their finances.
Grab’s continued support for SuperBank strengthens our shared commitment to enhancing financial inclusion across Indonesia.”
Featured image: (From left) EMTEK Managing Director Sutanto Hartono, Grab COO Alex Hungate, SCM President Commissioner Adi W. Sariatmadja, Superbank President Director Tigor M. Siahan, Grab Indonesia Country Managing Director Neneng Goenadi, EMTEK CEO Alvin Sariatmadja, Singtel Managing Director Gan Siok Hoon and KakaoBank CEO Yoon Hoyoung.
