<article>Indonesia’s US-listed digital payment and e-commerce platform KinerjaPay has raised an investment of $200 million from Indonesian project construction firm Investa Wahana Group (Wahana Group).</article>

Indonesia’s US-listed digital payment and e-commerce platform KinerjaPay has raised an investment of $200 million from Indonesian project construction firm Investa Wahana Group (Wahana Group).
According to a release, the total investment by Wahana Group consists of a subscription of $100 million worth of shares in KinerjaPay’s Series F round and an additional $100 million in shares of the company&#8217;s Series G Convertible Preferred Stock.
KinerjaPay says it will use the proceeds to fund the its peer-to-peer lending operations, potential acquisitions and strategic investments in the company&#8217;s home-based region as part of their expansion plan for 2019.
The company also plans to allocate a certain portion of the subscription proceeds to repurchase KinerjaPay&#8217;s stock in the open market, subject to the rules and regulations of the SEC.
KinerjaPay is a digital company running a web portal and mobile application that provides payment solution while shopping online at its marketplace platform. It became the first Indonesian e-commerce company to be listed on the US OTC Market.
In May last year, the company announced its acquisition of Kinerja Indonesia, whose line of businesses includes data center, web hosting and development, network solutions, e-wallet and games.
Five months later, the newly acquired Kinerja Indonesia moved to acquire local digital payment company PT Mitra Distribusi Utama (MDU), offering digital payment solutions for mini-market entrepreneurs, supermarkets, convenience stores, restaurants, workshops, and e-commerce sites.
Indonesia&#8217;s payment space is currently dominated by Go-Jek&#8217;s Go-Pay and Lippo&#8217;s OVO. The latter is known as the payment solution for Go-Jek&#8217;s rival Grab and it has also recently established a partnership with e-commerce unicorn Tokopedia.
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<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/kinerjapay-to-acquire-pt-kinerja-indonesia-to-develop-cloud-technology-97860/">KinerjaPay to acquire data centre firm Kinerja Indonesia</a>
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KinerjaPay says it will use the proceeds to fund the its peer-to-peer lending operations, potential acquisitions and strategic investments in the company's home-based region as part of their expansion plan for 2019.

Indonesia's KinerjaPay secures $200m investment from local firm Wahana Group

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Indonesia's KinerjaPay secures $200m investment from local firm Wahana Group

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