Indonesian e-wallet LinkAja secures strategic investment from Mitsui

LinkAja has secured a strategic investment from Mitsui, marking the first investment by a global company in the digital payment platform. This move will enable LinkAja to further fortify its ecosystem and business strategies, including collaborations with its State-owned Enterprises (SoE) shareholders.

Mitsui’s investment in LinkAja represents a strategic approach to developing its digital finance business while accelerating collaboration between LinkAja’s ecosystem, primarily within SoEs, and Mitsui’s ecosystem in Information & Communication Technology (ICT), retail, and other sectors. This synergy aims to catalyze economic and financial inclusion in Indonesia, leveraging the strengths of both entities.

Through pivoting its business model and cost efficiency strategies, LinkAja has successfully achieved significant improvements in business performance, with positive EBITDA for two consecutive quarters at the end of 2023. In 2024, LinkAja continues to focus on synergizing with state-owned enterprises (BUMN). Mitsui’s strategic investment will also provide opportunities for LinkAja and Mitsui to combine their various capabilities and unique competitive advantages to contribute to Indonesia’s digital economy.

Previously, in February, as part of strengthening its strategic role as a payment platform, LinkAja launched the Loyalty Points Exchange Program within the SoE Ecosystem through AKHLAK Point and reinforce its position in disbursement incentive program for several SoEs. These initiatives stand as a robust commitment to the collaborative synergy between LinkAja and SoEs, aimed at enhancing the digital ecosystem for greater efficiency and effectiveness to provide added value for consumers journey while fostering sustainability for the company. Mitsui’s strategic investment is expected to accelerate economic and financial inclusion in Indonesia.

Mitsui has set three key strategic initiatives for its current Medium-term Management Plan: supporting industries to grow and evolve with stable supplies of resources and materials, providing infrastructure; promoting a global transition to low-carbon and renewable energy; and empowering people to lead healthy lives through the delivery of quality healthcare and access to good nutrition.

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