Kinerja Indonesia partners with The Founders Camp to bring company to the international stage

Source: KinerjaPay website.

Indonesian e-commerce service KinerjaPay is ready to expand into the Asia Pacific region after the setting up new headquarters in Singapore to operate payment services and attract funding.

Since its launch in Indonesia in February 2015, KinerjaPay has handled 40,000 transactions from 10,000 active users who use its technology to shop online, buy in-game items and collect virtual discount vouchers. It expects to sign up 100,000 users by the end of this year.

Its expansion will be handled by Kinerja International, which has been set up in Singapore as part of an agreement between digital solutions company Kinerja Indonesia and Singapore startup enabler The Founders Camp. KinerjaPay will be operated by Kinerja International in Singapore, and Kinerja Indonesia’s founder and CEO Edwin Ng will become Kinerja International’s chairman. To lead Kinerja International in its expansion, a new CEO – Deny Rahardjo – will join the team in August 2015. He will immediately start the search for a chief marketing officer.

Under the agreement, The Founders Camp buys over all the intellectual property for the KinerjaPay service from Kinerja Indonesia. The startup enabler expects to attract US$2 million of funding from investors from Singapore, Europe and the US starting from this year. Kinerja International expects to be ready for an initial public offering (IPO) in the US within three years.

“As the fastest growing market for e-commerce in Southeast Asia, Indonesia has seen innovation in online services growing by leaps and bounds,” said Rahardjo, a veteran of more than 20 years in the infocomm industry with multinational companies such as Nokia, Microsoft and Polycom.

“With its experience in Indonesia, KinerjaPay is well-positioned to bring its technology to the wider Southeast Asian region to attract more users to its platform.” 

The development of KinerjaPay’s services will continue to be carried out in Jakarta, Indonesia. These include improvements to its online marketplace, where users can pay for items such as in-game items on their phones or computers. KinerjaPay will also be refining the experience for users who currently collect the company’s virtual coins as discount vouchers for entertainment venues such as cafes, restaurants and boutiques.

“We are excited to bring global expertise and funding to KinerjaPay, an e-commerce service that is already a proven success in the short time that it has been launched to the public,” said Paddy Tan, CEO of The Founders Camp.

“With its continuing growth in Indonesia as well as the Southeast Asian region, KinerjaPay will add value to users who depend on it for online payment and transactions.” 

Founders Camp matches promising regional startups with investors around the globe. Through its international network and startup expertise, it readies new Southeast Asian companies for the world stage. It also provides advisory services to new technology companies in the region.