OnlinePajak Get Series B Funding Worth 379 Billion Rupiah

OnlinePajak announced that it has just booked a series B funding of $25 million (equivalent to 379.6 billion Rupiah). The funding was led by Warburg Pincus, with support from the Global Innovation Fund (GIF) and Endeavor Catalyst. Previous OnlinePajak investors, Alpha JWC Ventures, Sequoia India, and Primedge also participated in this follow-up funding.

Charles Guinot as Founder & CEO OnlineTax said that this funding is a validation of the business model being carried out. Funding will be focused on realizing a tax compliance revolution with artificial intelligence-based technology and blockchain.

"We plan to accelerate the expansion of our ability to continue to assist taxpayers. We will transform the ease of doing business in this country, by helping companies increase their productivity, and also support the Directorate General of Taxes in managing the taxes that the country needs," said Charles.

Founded in 2015, OnlineTax presents an integrated web-based application that can be used by taxpayers to calculate, deposit, and report taxes. The application is intended for personal as well as institutional use. Previously, OnlinePajak has also won Series A pendanaan funding in late 2017 led by Alpha JWC Ventures.

"We believe that OnlinePajak has tremendous growth potential, not only in helping Indonesian businesses operate more efficiently, but also in playing an important role in realizing the Indonesian government's vision of expanding the country's tax base," said Head of Southeast Asia from Warburg Pincus, Jeffrey Perlman.

OnlinePajak is the first tax startup to implement technology blockchain. Since its launch in 2015, OnlinePajak has been trusted by more than 900 thousand users.