Jakarta, Indonesia – Superbank announced an additional investment of IDR 1.2 trillion from its shareholders, which include Grab, Singtel, and KakaoBank. This increased investment made by the three shareholders will help Superbank improve services and product developments to fulfil its customers’ different financial demands and lifestyles.
Additionally, this investment highlights the shareholders’ plan for and backing for Superbank’s future prospects. Superbank is the first bank in Indonesia to enable millions of Grab partners and users to register accounts, save money, and use accounts as a direct payment option within the Grab app without having to download any extra apps.
Speaking about the investment, Tigor M. Siahaan, president director of Superbank, said, “We greatly appreciate the trust of our shareholders in supporting our efforts to continuously create innovative and relevant digital banking products and services. The ongoing support from Grab, Singtel, and KakaoBank extends beyond investment, as they also contribute their advanced technology, insights, and network assets to help accelerate our growth. This additional investment will strengthen us in expanding inclusive financial services and accessible financing for more underbanked retail customers and MSMEs in Indonesia.”
He added, “With such strong support from our ecosystem partners, we believe we can further increase our role in driving sustainable growth of the underbanked communities to help improve their productivity and welfare.”
Meanwhile, Neneng Goenadi, country managing director of Grab Indonesia, said, “Grab understands the importance of delivering digital banking technologies with various innovative features that are easily accessible and can help consumers manage their finances better. Grab’s ongoing support for Superbank reinforces our shared commitment in enhancing financial inclusion across Indonesia.”
Furthermore, Gan Siok Hoon, managing director of Singtel, said, “This new round of investment underscores our commitment to promoting financial inclusion and driving digital transformation across Southeast Asia, especially Indonesia. We share Superbank’s vision to serve the unbanked and underbanked and are confident in their strong ecosystem and growth trajectory. We are glad to be part of this growth journey with like-minded shareholders and look forward to further strengthening our partnership.”
Lastly, Yun, Ho Young, chief executive officer of KakaoBank, stated, “As a leading mobile-first bank and financial technology company with a strong global network, KakaoBank understands the transformative power of accessible and secure digital banking solutions. Our continuous investment in Superbank strengthens our dedication in driving innovation and financial inclusion on a global scale, as well as empowering Indonesians with reliable financial services.”
The additional investment follows the inclusion of Superbank services directly into the Grab app. The collaboration enables millions of Grab users and partners to open accounts, save money, and make payments without having to download a separate app. This project significantly advances Superbank’s goal of delivering safe and affordable financial access, thereby increasing financial inclusion in Indonesia.
