Kemkominfo Happy Thanks to Ovo to be in the 5th Position as an Indonesian Unicorn Startup
The joining of Ovo to be part of Indonesia’s 5th unicorn startup indicates that in the future it will be easy to gain the trust of local and international investors in the startup ecosystem in Indonesia.
That’s what the Minister of Communication and Information (Menkominfo) Rudiantara said when he found out that Ovo had a valuation of more than USD 1 billion to get to unicorn startup status.
“Alhamdulillah, Indonesia’s projection of giving birth to five unicorns in 2022 is in sight,” said Rudiantara happily.
Apart from Ovo, previously Gojek, Traveloka, Bukalapak, and Tokopedia received the title of unicorn from Indonesia.
“The addition of this unicorn startup shows that we will have the confidence of investors, both nationally and internationally and will have an impact on the Indonesian startup ecosystem. It is highly hoped that Indonesia will give birth to another unicorn this year, so that it will exceed the record 5 Indonesian unicorn startups
Ovo Becomes the 5th Indonesian Unicorn Startup
As previously reported, based on the results of the CB Insight report, Ovo obtained the status of an Indonesian unicorn startup on March 14. The company owned by the Lippo Group has a valuation of USD 2.9 billion or around Rp 40.9 trillion.
Ovo, which is under PT Visionet Internasional, was initially only a loyalty application that managed the results of shopping points at shopping centers owned by the Lippo Group.
Then in 2022, Ovo got a license from Bank Indonesia to create a digital wallet. In order to have a wider market, Ovo then partnered with Tokopedia and Grab.
Ovo’s journey after journey has made him one of the big fintechs in Indonesia. Throughout 2022 alone, Ovo said it had run 1 billion transactions.