According to people with knowledge of the situation who spoke to Tech in Asia, Indonesian digital wallet Dana has officially joined the unicorn club after receiving financing from Lazada and the local conglomerate Sinar Mas Group.
According to one of the sources, the financing increases Dana’s post-money worth to about US $1.2 billion.
Calculations based on regulatory filings indicated that Dana was valued at about US $1.1 billion, according to a DealStreetAsia story from August.
Through three businesses, Sinar Mas Group, which invested $250 million in Dana, today controls 22.11% of the business. Through its LazadaPay Holdings subsidiary, Lazada, which is affiliated with Alibaba like Dana, paid US $304.5 million for 4.8 million shares that had previously belonged to current shareholder Emtek Group. Dana is now 33.18% owned by Lazada.
On Dana’s valuation and unicorn status, CEO and co-founder Vince Iswara previously refrained from commenting. In order to pursue its next stage of expansion, he stated that the company’s future priorities include extending its financial services.
Iswara claimed that Dana now has 120 million users and handles 10 million transactions daily.
