BRI Explores Investment Potential to Traveloka

Our sources confirmed that BRI is indeed exploring investment or other opportunities into Traveloka, but no final decision has been made yet. This assessment starts from availability top up Brizzi, launch PayLater credit card, which continues on the potential investment.

This discourse was expressed by the President Director of BRI Sunarso, yesterday (24/10). He said the company was considering injecting capital into Traveloka. There are several options that will be carried out, joint operations, entrusting the sale of BRI products in the application, or taking share ownership.

"Later we will choose the most optimal option, if all three are optimal, then we will do everything," explained Sunarso as quoted from Cash.

It was not explained how much BRI prepared for investment in Traveloka. It could be derived from the annual allocation of Rp 5 trillion to hold corporate actions.

"Every year we reserve funds of up to Rp5 trillion for corporate actions. But whether the funds will be channeled to one target (company) or to several (companies) we will see."

Beyond this discourse, BRI's ambition is to become a strong bank in Indonesia microcredit which can serve as many people as possible at the lowest possible price.

Previously, there was a discourse to create a fintech company in the fields of credit, savings, and payments. But the concrete form is still being considered, whether placed in a subsidiary, owning it, or a collaboration.

BRI itself has announced its establishment BRI Ventures which manages $250 million (equivalent to IDR3,5 trillion) for fintech startups late stage or Series A and above. BRI Ventures is led by Nicko Widjaja.