For expansion, DuitHape is looking for US$ 500,000 of funding

21 June 2018 08:12

JAKARTA - PT Virtual Online Exchange, operator of DuitHape, one of the technological start-ups is targeting funding of US$ 500,000 until the end of June 2018 for business expansion plans. Funds obtained will be used 66% to reach Java and some other selected cities, 22% for technology development, and 12% for head office development.

DuitHape Managing Director Sara Dhewanto said DuitHape currently has more than 17,000 agents centered in West Java. By 2017, DuitHape has managed to get funding of US$ 175,000 from angel investors. Through the funding, DuitHape penetrated the market in West Java.

"To date there are 17,000 agents with 4,500 users. The volume of transactions that occurred reached 41,000 times with the transaction value reached Rp 2.3 billion, "said Sara quoted from Kontan.co.id.

In addition, Duit Hape has obtained a license from Bank Indonesia as a payment system as per March 8, 2018. DuitHape also has partnered with Bank Negara Indonesia (BNI) in co-branding under the e-money license of Bank BNI.

"Through DuitHape, people who have mobile phones (HP) can perform payment systems and remittances across operators, across banks and across operational systems," he said.

Since 2017, DuitHape seeks to penetrate the West Java market. While in 2018 to 2020, DuitHape wants to dominate the Java market and some selected cities in Indonesia. In 2020 to 2022 DuitHape Want to master the national and international markets. (LK/HR)

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