Ant Financial-backed startup Dana rides Indonesian fintech wave

Vincent Iswara, CEO of DANA

Dana, a fintech startup backed by Ant Financial, is scouting for another strategic investor to help it snag more of the nation’s 150 million smartphone users.

PT Espay Debit Indonesia Koe, Dana’s operator, has racked up about 20 million users within a year of its launch, averaging about 1.5 million transactions daily, according to Chief Executive Officer Vincent Iswara. The digital wallet offers services such as QR-code based transfers and online credit-card transactions for individuals as well as merchants.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter