Indonesia’s Warung Pintar raises $4m in Vertex-backed round

Warung Pintar

Indonesian retail technology startup Warung Pintar today secured another $4 million investment in a fresh funding round backed by new investors Vertex Ventures, Pavilion Capital, and LINE Ventures, the startup announced in a release.

The new funding for the startup comes only six months after its $4-million seed funding round in February backed by SMDV, Digital Garage, East Ventures, Insignia Ventures Partners, Triputra Group and various angel investors.

All existing investors also participated in the latest round, Warung Pintar told DEALSTREETASIA separately.

The new funding, Warung Pintar said, will be used to accelerate its mission to help improve the quality of warungs (traditional kiosks) in Jakarta and to encourage technology inclusion for micro-enterprises.

Warung Pintar, which translates to Smart Kiosk, is a prefabricated kiosk with technology integration for Indonesian SMEs and mom-and-pop stores. A typical prefabricated smart kiosk from Warung Pintar features a surveillance camera, an LCD TV, stove and dispensers, a refrigerator, a digital system and a charging station.

Since its initial funding, the startup says its kiosk base has grown rapidly with an average monthly growth of 187 per cent. Today, Warung Pintar boasts 319 kiosks across the greater Jakarta area, operated by more than 500 micro-entrepreneurs.

The startup has also engaged in several programmes and collaborations to boost its growth and promote digital financing for kiosk owners, the most notable of which is its recent partnership with Go-Jek’s payment arm Go-Pay, which allows Warung Pintar customers to carry out cashless payments.

“We are trying to solve hyper-local problems that these warungs have on their daily basis with the state-of-the-art technology and global knowledge of the product. Therefore we’re building a team of engineers with strong technical understanding and a big heart for Indonesians grassroots,” said Warung Pintar CTO Sofian Hadiwijaya.

Willson Cuaca, Managing Partner of East Ventures and Chairman of Warung Pintar, said, “Warung Pintar was literally born out of problems that laid before our own eyes but went unnoticed. We are confident and excited to bring financial inclusion to the unbanked population by giving them financial strength and additional income, not by lending them money like what has been trending recently.”

For Singapore’s Vertex Ventures, the deal represents its first publicly announced investment in an Indonesian company since it closed its $210-million third Southeast Asian fund in October last year after exceeding its $150-million target.

Also Read:

East Ventures backs $4m seed round in Indonesian retail tech startup Warung Pintar

Vertex-backed Tickled Media raises nearly $5m for Southeast Asia expansion

East Ventures, Berjaya back $1.2m round in Indonesian motorcycle platform Moladin

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.