Heaptalk, Jakarta — A digital signature and identity startup, Privy, has acquired PT Garda Bina Utama, the AyoPajak tax application provider, for an undisclosed amount.
Based on the official press release, this strategic acquisition aims to expedite and enhance digitalization towards tax administration while strengthening digital identity business and certified electronic signatures in Indonesia.
According to Andreas Saryadi, CEO of AyoPajak, this acquisition is expected to make the digital tax reporting administration process more secure regarding legality and validity. It is hoped that Privy, as an Electronic Certification Provider (PSrE) in Indonesia, will increase public confidence in the digital tax administration process.
“With this acquisition, we can synergize in business expansion for digital tax administration processes and fulfill compliance elements,” Andreas added.
Established in 2016, Privy claimed that the company had processed over 40 million digital signatures (e-signature) annually. The startup management also admitted Privy’s service has been utilized by more than 30 million verified users and 3,300 corporate clients. In November 2022, this startup expanded its business reach to Australia after landing Series C funds at US$48 million from KKR, Singtel Innov8, MDI Ventures, CGV capital, and Telkomsel Mitra Inovasi (TMI).
Previously, In September 2022, Privy has been appointed as a Non-Agency Certificate Organizer for the Implementation of Rights and Fulfillment of Tax Obligations Electronically based on Minister of Finance Decree Number 454/KM.03/2022.
“This is Privy’s first acquisition corporate action. We welcome AyoPajak’s joining as part of the big Privy family. Through this acquisition, we expect the AyoPajak platform can speed up the Indonesian digital tax administration process and ensure the security of taxpayers’ data.” CEO of Privy, Marshall Pribadi, said.
Meanwhile, AyoPajak is an online platform designed for Individual Taxpayers, companies, and tax consultants to carry out tax administration processes online, such as creating, reporting, and revising Tax Returns (e-filing), creating Billing IDs (e-billing), creating and registering Tax Invoices (e-Invoice), Tax Deduction Proof (e-Bukpot). This service is directly integrated with the Directorate General of Taxes (DJP) system of the Indonesian Ministry of Finance.
