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Sinar Mas and Lazada Group have injected an undisclosed amount of capital into Indonesian digital wallet company DANA, joining EMTEK Group and Ant Group as the fintech firm’s shareholders.
“With continuing growth of the digital landscape in Indonesia and Southeast Asia, extending access to financial services and providing wider payment options for businesses and consumers is an extremely important development,” said James Dong, CEO of Lazada Group and Lazada Indonesia.
“Although Lazada will remain focused on e-commerce, we see Lazada as a key player in building technology, logistics and payment infrastructure that will benefit Southeast Asia in the long term. Our investment in DANA is a strategic step in the right direction,” he added.
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