Payments aggregator Oy! Indonesia has secured $30m from a Series A funding round led by investment juggernaut SoftBank.
The round also saw participation from MDI, AC Venture, CCV and Pavilion Capital.
Established in 2017, Oy! is building a payment aggregator in Indonesia that enables individuals and businesses to send and receive money. The firm claims to have over one million users and has said it is processing millions of transactions every month.
According to Oy!, it intends to use its newly raised capital to expand its business in Indonesia and kick off a new stage of growth.
Oy! founder Jesayas Ferdinandus said, “We believe that this growth must be guided by the commitment to realise the vision of Oy! Indonesia as the best and the most comprehensive money movement aggregator infrastructure provider in Indonesia.”
Fellow Indonesian payments firm Xendit recently inked $150m in Series C funding and pushed its valuation over the $1bn mark. The round was led by Tiger Global.
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