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Voucher Distribution plans to take 30% stake in Pawoon

06 December 2018 05:15 PM  Company: PT. Distribusi Voucher Nusantara Tbk[DIVA]
Rp. 2,900  +130 (4.69%)

JAKARTA - PT Distribusi Voucher Nusantara, Tbk (DIVA), a subsidiary of PT Kresna Graha Investama Tbk (KREN), announced plans to acquire 30% stake in "Pawoon", the leading cloud-based Point of Sales (POS) application in Indonesia.

This unspecified investment is seen as a strategic step that positions Pawoon and DIVA in the 'sweet spot' or the midpoint to accelerate exponential growth and enter one of the billions of dollars in Southeast Asian businesses.

Ahmad Gadi, Founder and CEO of Pawoon said, “The injection of fresh funds from DIVA will be directed towards product development and accelerating the acquisition of merchants across the country, with the potential of millions of businesses. Pawoon provides everything a retailer needs to start, run and grow his business.”

Since its first product launch in 2015, POS Pawoon application has been used by more than 10,000 merchants, spread in more than 200 cities in the country. A number of well-known local brands have become Pawoon clients including Go-Pay, Geprek Bensu, Dum Dum Thai Tea, Field Meatball Shoot, Mango Bomb, and many more.

DIVA Director Dian Kurniadi added that Pawoon's exponential growth, jumping 28-fold over the past 24 months (20% monthly growth in the past 4 months), Pawoon offered an attractive business expansion and potential growth for DIVA outside the three sectors that currently support the company's business. (LM)

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PT. Distribusi Voucher Nusantara Tbk [DIVA]   Rp. 2,900   +130 (4.69%)