Xendit Controls 14.96% of Bank Sahabat Sampoerna

Technology & Telecommunications

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Reza Pahlevi 26/04/2022 14:00 WIB

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Xendit is among a number of startups investing in banks. Xendit now holds a 14.96% stake in Bank Sahabat Sampoerna.

Shareholders of Bank Sahabat Sampoerna (April 2022)

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Shareholders of Bank Sahabat Sampoerna (April 2022)

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Financial technology (fintech) startup Xendit has become a minority shareholder in PT Bank Sahabat Sampoerna, or Bank Sampoerna, holding a 14.96% stake.

Xendit will serve as Bank Sampoerna's technology partner for its technological development. Separately, Bank Sampoerna emphasized that Xendit's investment does not signify a transformation into a digital bank.

Xendit is one of Indonesia's startups with a valuation exceeding US$1 billion, a so-called unicorn. This valuation was achieved after a Series C investment of US$150 million at the end of 2021.

Xendit's investment in Bank Sampoerna follows several other startups. Previously, Ajaib became the controlling shareholder of Bank Bumi Arta with a 40% stake.

Bukalapak also invested in the digital bank AlloBank, holding an 11.9% stake in the bank owned by CT Corp.

Editor : Annissa Mutia

"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."