DANA Achieves Unicorn Status in Indonesia; CB Insights Reveals Valuation

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Cindy Mutia Annur 20/09/2022 18:20 WIB

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According to a CB Insights report, Indonesian fintech company DANA has joined the ranks of new Indonesian unicorns.

Indonesian Private Unicorn Companies (September 13, 2022)

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Indonesian Private Unicorn Companies (September 13, 2022)

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According to the report *The Complete List of Unicorn Companies* released by CB Insights, the Indonesian financial technology (fintech) company DANA has been included in the list of Indonesian unicorns.

CB Insights noted that DANA became a unicorn on September 8, 2022, with a valuation of US$1.13 billion, or approximately Rp16.9 trillion.

However, DANA has not yet confirmed the amount of this valuation. "We believe DANA's position allows us to provide the best solutions for the community," said DANA's VP of Corporate Communications, Putri Dianita, to *Katadata.co.id* on Monday (September 19, 2022).

Previously, Sinar Mas and Lazada invested in DANA. Lazada also entered the DANA ecosystem by purchasing shares from Elang Mahkota Teknologi (Emtek).

According to the CB Insights report, J&T Express's valuation has now reached US$20 billion, making it a decacorn. Therefore, Indonesia has two decacorns: J&T Express and GoTo.

GoTo, the result of a merger between Gojek and Tokopedia, is estimated to have a valuation of US$40 billion. GoTo has also become a public company and has been listed on the stock exchange since April 2022, while J&T Express is still listed as a private company according to CB Insights.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."