Sinar Mas invests $250m in e-wallet startup DANA, Lazada finalises deal too

Vincent Iswara, CEO of DANA

Indonesian conglomerate Sinar Mas Group and e-commerce giant Lazada have completed the investment process in local digital wallet company Espay Debit Indonesia Koe, popularly known as DANA, according to a statement on Wednesday.

The startup has not mentioned the details of Sinar Mas and Lazada’s ownership in DANA. However, in an exclusive interaction with DealStreetAsia, DANA CEO and co-founder Vincent Iswara said three entities of Sinar Mas would invest $250 million the fintech startup.

Bring stories like this into your inbox every day.

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