Heaptalk, Jakarta — Superbank secured an additional investment of US$73.4 million, approximately Rp1.2 trillion, from its shareholders, including Grab, Singtel, and KakaoBank. The three shareholders’ additional investment will support Superbank in enhancing services and product innovations to meet its customers’ diverse financial needs and lifestyles.
This investment also emphasizes the shareholders’ confidence and support for Superbank’s vision and growth potential, having recently become the first bank in Indonesia to provide millions of Grab users and partners access to open accounts, save, and use accounts as a direct payment method in the Grab app without needing to download additional applications.
“We greatly appreciate the trust of our shareholders in continuously supporting our efforts to create innovative and relevant digital banking products and services. This additional investment will amplify us in expanding inclusive financial services and accessible financing for more underbanked retail customers and MSMEs in Indonesia,”
Besides bagging additional funds, Superbank, in collaboration with Genesis Alternative Ventures, also previously launched a financing solution of US$39.3 million to back Indonesia’s startups. The financing access combines the principle of conventional bank credit and venture capital investing, targeted at Indonesia’s technology-based startups. It extends working capital to technology startups with a minimum shareholder equity dilution.
The collaboration between these entities emphasized their strategic plans to empower Indonesia’s startups, specifically those at the Series B and C funding stage, to realize their further enhancement. Backed by an ecosystem of key industry players like Emtek Group, Grab, Singtel, and KakaoBank, the new investment will significantly reinforce this digital bank startup capabilities and competitiveness in the archipelago’s market.
Responding to this investment, Country Managing Director of Grab Indonesia, Neneng Goenadi, said, “Grab understands the importance of delivering digital banking technologies with various innovative features that are easily accessible and can help consumers manage their finances better. Grab’s ongoing support for Superbank reinforces our shared commitment to enhancing financial inclusion across Indonesia,”
