Warung Pintar Announces New Funds Obtaining 57 Billion Rupiah

Warung Pintar announced the acquisition of new funding of $4 million (approximately 57,9 billion Rupiah) from Vertex Ventures, Pavilion Capital, and Line Ventures. This funding will fuel Warung Pintar to accelerate efforts to help improve the quality of warungs in Jakarta and encourage technology inclusion for micro-enterprises. It is claimed that the average monthly income of warung partners can reach up to Rp. 4,17 million or 15% higher than the minimum wage for the Greater Jakarta area.

Previously, in February, Warung Pintar too earn $4 million for initial funding. Within six months, the number of kiosks increased by more than 3000%, from 12 to 319 kiosks. It is claimed that there have been 12 thousand potential partners of Warung Pintar who have registered. Earlier this month Warung Pintar announced a partnership with Go-Jek for accept Go-Pay as a means of non-cash payment.

"We continue to innovate and listen to what customers and kiosk partners need so that the technology we develop is accessible and easy for them to use. We continue to try to solve problems hyperlocal which these stalls have every day with the latest technology and global knowledge of products. That's why we are building a team engineering with a strong technical understanding and a big heart for the Indonesian people," explained CTO Smart Shop Sofia Hadiwijaya.

In previous interview, the Warung Pintar said that Warung Pintar implemented a partnership system with anyone from the lower middle class who wanted to do business with the Warung Pintar unit. The only requirement is that they go through the selection process and verify data before the shop opens. One of them already has his own land (it can be owned or rented) to be used as a shop.

Warung Pintar will lend facilities in the form of Wi-Fi, LCD TV, CCTV, shop buildings, dispensers, mini refrigerators, stoves, and digital systems as initial capital without monthly fees. The company does not take fee from the shop owners as monetization.

“Warung Pintar is really born from the problems that are in front of our eyes but we are not aware of. We are confident and passionate about bringing financial inclusion to the unbanked population (unbanked population) by giving them financial strength and additional income,” said East Ventures Managing Partner and Commissioner of Warung Pintar Willson Cuaca.