KKR, a leading global investment firm, and Privy (the “Company”), a leading digital escrow provider in Indonesia, today announced the signing of definitive agreements whereby KKR will participate as the lead investor in Privy’s $48 million Series C funding round , with participation from existing investors MDI Ventures, GGV Capital and Telkomsel Mitra Inovasi (“TMI”), as well as new investors including Singtel Innov8. The investment will help Privy strengthen its leading position as a digital signature and digital identity provider in Indonesia, support the development of new consumer and enterprise products to enable Indonesians and businesses to securely access a broader range of services, and accelerate broader digital transformation be able.
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This latest investment in Privy builds on the Indonesian government’s strong commitment to accelerate the digital transformation of the world’s fourth largest population1 through four strategic sectors – namely digital infrastructure, digital governance, digital economy and digital citizenship – and contribute to the development of the digital community in Southeast Asia. Indonesia’s digital economy is expected to reach $146 billion by 20252and to become Southeast Asia’s largest digital economy by 2030, valued at more than $300 billion.3 With the support of new and existing investors, the company will also…
