[Updated] Indonesia’s Sinar Mas Group to invest $225m in digital wallet DANA

Vincent Iswara, CEO of DANA

Editor’s note: This story, originally published on Mar. 2, has been updated to include the $25 million investment by PT Bank Sinarmas Tbk in DANA’s parent entity.

Affiliates of Indonesia’s diversified conglomerate Sinar Mas Group are set to invest $225 million in the local digital wallet DANA, according to a regulatory filing. The move is part of the company’s effort to expand its digital business.

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