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Superbank Receives Additional Investment of IDR 1,2 Trillion from Grab, Singtel, and KakaoBank

In June 2024, Superbank just inaugurated a joint strategic collaboration Grab via the Banking as a Service service

Digital banking service development company Superbank today (03/7) announced an additional investment of IDR 1,2 trillion from previous shareholders, namely Grab, Singtel, and KakaoBank. The fresh funds will be used to support efforts to improve services and product innovation for its customers.

This investment is also considered to confirm shareholder confidence and support for Superbank's vision and potential.

Prior to this new investment round, EMTEK was still the shareholder with the highest percentage, followed by Grab, Singtel, and KakaoBank. Grab itself uses PT Kudo Teknologi Indonesia (Kudo) as its investment vehicle – as is known Kudo acquired Grab since 2017.

The ranks of Superbank shareholders before this new investment / Superbank

"We really appreciate the trust of shareholders in supporting our efforts to continue to create innovative and relevant digital banking products and services," said Superbank President Director Tigor M. Siahaan.

He continued, "Continuous support from Grab, Singtel and KakaoBank are not only investments, but also leading technology, insights and network assets to accelerate our growth. This additional investment will strengthen us in expanding inclusive financial services and financing that is easily accessible to more retail and MSME customers underbanked in Indonesia."

Superbank was previously known as PT Bank Fama International. Founded in Bandung in 1993, Superbank entered a new era when it became part of the Emtek Group at the end of 2021, followed by Grab and Singtel in early 2022, and KakaoBank in 2023 as part of the consortium. Superbank has a mission to expand credit access for retail and MSME customers, empower them with innovative solutions, and develop collaboration through one of the broadest ecosystems in the industry.

In June 2024, the new Superbank was officially launched joint strategic cooperation Grab via the Banking as a Service service. Users and partners can now open accounts, save and make transactions directly from the application Grab. In addition to basic banking features, Superbank also offers Self-Arranged Loans (PAS) to users Grab selected. PAS is a digital loan without collateral that is easy to apply for with a flexible credit limit and tenor as well as transparent interest and fee information.

Superbank continues to introduce innovative savings products such as Piggy Bank by Superbank which offers high interest of 10% per year for automatic daily savings. This step emphasizes Superbank's commitment to innovation and financial inclusion in Indonesia.

"Grab understand the importance of presenting digital banking technology with a variety of innovative and easy-to-access features, and can help better financial management for consumers. Support Grab "for Superbank confirms our joint commitment to increasing financial inclusion throughout Indonesia," welcomed the Country Managing Director Grab Indonesia Neneng Goenadi.

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