Left to right: OVO’s President Director, Karaniya Dharmasaputra; Warung Pintar’s CEO and Co-Founder Agung Bezharie Hadinegoro; General Secretary Director of Regional Commerce for Indonesia’s Minister of Commerce, Syailendra; Minister of SMEs Teten Masduki; Deputy of Creative Economy, Entrepreneurship, and SMEs and Indonesia’s Economy Minister Coordinator, Mohammad Rudy Salahuddin; Tokopedia’s CEO and Founder William Tanuwijaya; SAHARA’s CEO, Farah Savira in the opening of Festival Gerakan Nasional (FGWN) in Lapangan Banteng, Jakarta, Saturday, December 14.
OVO, Indonesian digital payment platform, announces that it has launched financing services to address SMEs’ needs called DanaTara. The new offer aims to widen business access for SMEs as well as supporting them in improving business potentials.
OVO President Director Karaniya Dharmasaputra said that OVO DanaTara offers to be a solution for business expansion, balance stream management, and to be additional equity for Indonesian SMEs.
“This solution seeks to help address SMEs’ needs in getting business financing in an easier, simpler process. DanaTara has been made available for SMEs in e-commerce platforms like Tokopedia, Lazada, Shopee, and BukaLapak,” Dharmasaputra said.
OVO is also involved in Festival Gerakan Warung Nasional, a movement by Tokopedia and Warung Pintar, as a strategic partner to educate SMEs about e-payment and digital financial services for SMEs.
Also Read: OVO expands to P2P lending service by acquiring Taralite
The event also welcomed Indonesia’s Minister of SMEs Teten Masduki, alongside OVO President Director Karaniya Dharmasaputra; Tokopedia’s CEO and Founder, William Tanuwijaya; Warung Pintar’s CEO and Co-Founder Agung Bezharie Hadinegoro; and the Chairwoman of Indonesia’s Women Entrepreneur (INKOWAPI), Ir. Sharmila, M.Si.
Rumours have been circulated since earlier this year that Lippo Group would sell its stake in OVO as the company could no longer inject more funds into the fintech firm. Lippo Group was said to be paying around US$50 million to OVO per month.
However, OVO President Director Karaniya Dharmasaputra denied the rumours, saying that OVO was originally founded and developed by Lippo Group, as reported back in November 2019.
Finance Asia in its report in September cited a source that claimed OVO to have reached unicorn status through its latest funding round at US$2.9 billion valuations.
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