OVO Slams Bankruptcy Rumors; Posts 19-fold Revenue Increase
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16 December 2019 13:27 WIB
TEMPO.CO, Jakarta - Visionet Internasional or OVO said that the company has recorded a 19-fold increase in revenue by 2019. This achievement is supported the number of its monthly users, which had grown by 12 times.
"So, the rumors that we are burning money and collapsing are not true. Our revenue grew 19 times, and we are only just 2 years old," President Director Karaniya Dharmasaputra said in Jakarta, Saturday, December 14.
Karaniya said that as of October, OVO`s total purchased value (TPV) grew 19 times. He said the achievement was supported by an increase in the amount of funds raised, which was by 8 times.
Looking ahead, Karaniya believes more would be achieved as fintech penetration, especially digital wallet, in Indonesia has not been maximized.
"Digital payment only accounts for 56 percent penetration at the moment. There is a big room for us to grow," he said.
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