Indonesia's Warung Pintar gets $27.5m Series B

East participated via its EV Growth fund, which was set up last year with $100 million as a partnership with SMDV and YJ Capital, the respective VC arms of Sinar Mas and Yahoo. According to local media, SMDV is also participating in the round separately.

Other contributors include Pavilion Capital, Vertex Ventures, Line Ventures, Digital Garage, Agaeti Venture Capital, and Bank Tabungan Pensiunan Nasional. Visionet Internasional, a financial technology arm of Indonesian conglomerate Lippo Group also took part.

Warung Pintar describes itself as a “micro retail” technology company and specializes in the digitization of family-owned street stalls and food stands, which are known as “warung” in Indonesia. Financial inclusion and economic empowerment of the country’s poorest social groups are key themes.

The company is said to have raised about $35 million to date, including a $4 million round last year from East, SMDV, Digital Garage, Triputra Group, and Insignia Venture Partners, a Singapore-based VC firm founded by a former Sequoia Capital India venture partner.

EV Growth makes investments of $5-15 million with a view to filling gaps in Indonesia’s later-stage venture space. East has backed some of the most successful start-ups in the country’s growing consumer technology space, including Traveloka and Tokopedia. The firm has also identified support for micro-entrepreneurship as a strategic priority.

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• Topics
• Southeast Asia
• Consumer
• Technology
• Early-stage
• Indonesia
• East Ventures
• Sinar Mas Digital Ventures
• YJ Capital
• Financial Services