Warung Pintar Announces Series B Funding Worth 390 Billion Rupiah

Platform developer startups "new retail"  Smart Shop today (21/1) announced the acquisition of series B funding of $27,5 million, equivalent to 390 billion Rupiah. Funding was obtained from their previous investors, namely SMDV, Vertex, Pavilion Capital, Line Ventures, Digital Garage, Agaeti, Triputra, Jerry Ng and EV Growth. Also participating in the funding this time, a digital wallet developer under the auspices of the Lippo group, namely Ovo.

Previously Warung Pintar has received initial funding worth 55 billion Rupiah at the beginning of 2018. After that in the middle of the year they announced advanced funding worth 57 billion Rupiah. In 2018, this startup created by East Ventures has more than 1150 partner kiosks spread across the Greater Jakarta area. Several strategic partnerships have also been established, including with Ovo, Go-Pay, and Flock.

The Co-Founder & CEO of Warung Pintar Agung Bezharie Hadinegoro said that his company has a vision to be "golden standard" for micro-entrepreneurs in Indonesia. So far, Warung Pintar has boosted partners' income up to 41%.

OVO CEO Jason Thompson also added, Warung Pintar's proposition resonates with OVO's focus on empowering SMEs in Indonesia, this is an important part of financial inclusion.

While Chairman Smart Shop, Willson Cuaca confirmed, that Warung Pintar is one of the fastest growing startups in East Ventures' portfolio. The funding round is also considered capable of closing very quickly.

After this funding, Warung Pintar has the ambition to increase the growth of kiosks to reach 5000 units by 2019. It will also expand its reach outside Jabodetabek, starting from Banyuwangi.