Superbank announced today that it has secured an additional IDR 1.2 trillion (about $80 million) investment from its shareholders, Grab, Singtel, and KakaoBank.
This infusion of capital will bolster Superbank’s efforts to enhance its services and product innovations, aiming to meet the diverse financial needs and lifestyles of its customers.
This substantial investment reflects the shareholders’ confidence in Superbank’s vision and growth potential.
Recently, Superbank became the first bank in Indonesia to enable millions of Grab users and partners to open accounts, save, and use these accounts for direct payments within the Grab app, eliminating the need for additional applications.
“We greatly appreciate the trust of our shareholders in supporting our efforts to continuously create innovative and relevant digital banking products and services,” said Tigor M. Siahaan, President Director of Superbank.
“The ongoing support from Grab, Singtel, and KakaoBank extends beyond investment, as they also contribute their advanced technology, insights, and network assets to help accelerate our growth. This additional investment will strengthen us in expanding inclusive financial services and accessible financing for more underbanked retail customers and MSMEs in Indonesia.”
Neneng Goenadi, Country Managing Director of Grab Indonesia, stated, “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 in enhancing financial inclusion across Indonesia.”
Gan Siok Hoon, Managing Director of Singtel, added, “This new round of investment underscores our commitment to promoting financial inclusion and driving digital transformation across Southeast Asia, especially Indonesia. We share Superbank’s vision to serve the unbanked and underbanked and are confident in their strong ecosystem and growth trajectory. We are glad to be part of this growth journey with like-minded shareholders and look forward to further strengthening our partnership.”
Yun Ho Young, Chief Executive Officer of KakaoBank, commented, “As a leading mobile-first bank and financial technology company with a strong global network, KakaoBank understands the transformative power of accessible and secure digital banking solutions.”
The investment will play a crucial role in supporting Superbank’s mission to expand inclusive financial services and provide accessible financing options for underbanked retail customers and MSMEs in Indonesia.
Business News Asia
