Indonesian logistics startup Paket Delivery (Pakde) has raised $400,000 in seed funding from local venture capital firm TNKapital, while Indonesian mobile payments platform OVO has announced a partnership with online marketplace Tokopedia.
Logistics startup Pakde secures $400k seed funding
Indonesian logistics startup Paket Delivery (Pakde) has secured $400,000 in seed funding from local venture capital firm TNKapital.
In an interaction with this portal, Pakde CEO Nicko Batubara said the fresh capital will be used to finance the establishment of a new warehouse in Bandung as well as to strengthen its IT and business development teams.
Pakde describes itself as an e-commerce fulfilment company that works with local SMEs to improve cost and time efficiencies.
The company currently works with 15 partners that use its logistics services. Batubara said Pakde has set a target of acquiring 1,000 clients by the end of 2019.
OVO teams up with Tokopedia
Indonesian mobile payments platform OVO has struck yet another mobile payments partnership, this time with online marketplace Tokopedia.
As part of the latest partnership, Tokopedia users will be able to choose OVO to pay for their online purchases.
The partnership is Tokopedia’s way of circumventing the challenges brought about by the suspension of its own e-wallet, TokoCash. The company is yet to obtain an e-money licence, despite being under Bank Indonesia’s assessment for over a year.
OVO has struck a similar partnership with Grab, which like Tokopedia, also experienced regulatory troubles with its e-money license for GrabPay.
The suspension of some of the payment platforms offered by non-fintech companies in the country was carried out by the central bank in September 2017 due to regulatory issues. The regulatory hurdle has opened up a big opportunity in the mobile payments space for e-licence holders as OVO has demonstrated.
OVO, which is owned by conglomerate Lippo Group, is already the main mobile payment option for businesses within the Lippo ecosystem ranging from parking spaces to shopping malls and hospitals. It is also the payment channel of choice for users of O2O startup Kudo, which is owned by Grab.