A new unicorn rises as OVO's $1bn valuation confirmed
- Indonesia
- 2 min read
- Sep 23, 2019
- By Putu Agung Wija Putera
The Lippo Group subsidiary continues to grow in strength as it battles for market share with Gojek’s e-wallet and others
Cashless payments company OVO has become Indonesia’s fifth unicorn, easily surpassing the US$1bn valuation mark that defines such a tech rarity and joining a club that includes one of OVO's financial backers, e-commerce marketplace Tokopedia. According to a report by Finance Asia, citing a person with knowledge of OVO's finances, the company was last valued at US$2.9bn after its latest funding round.
Launched in 2016, OVO’s e-wallet allows users to pay at many merchants, including supermarkets, F&B outlets, and even online marketplaces. OVO is also the payment partner for Grab in Indone...
Launched in 2016, OVO’s e-wallet allows users to pay at many merchants, including supermarkets, F&B outlets, and even online marketplaces. OVO is also the payment partner for Grab in Indone...
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