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Kudo raises 8-digit funding led by Emtek Group

News Desk

The Jakarta Post

Jakarta  /  Wed, September 14, 2016  /  04:49 pm
Kudo raises 8-digit funding led by Emtek Group

Founded in early 2015, Kudo reportedly processes tens of thousands of transactions worth few billions rupiah per day. (shutterstock/-)

Jakarta-based assisted e-commerce startup Kudo has announced eight-digit funding through Indonesian media conglomerate Emtek on Wednesday.

According to a press release, Kudo aimed to use the funds to empower more Indonesians through technology. “The funds enabled us to establish a network presence throughout suburban and rural areas in Indonesia. Using our technology, we enable millions of underserved, unbanked and less tech-savvy Indonesians to have access to online bank transactions," said Kudo CEO Albert Lucius.

(Read also: Media giant Emtek Group boosts investment in Kudo)

Kudo, which focuses on a cash-payment system and reliance on agent-customer trust to push transactions, has reportedly delivered web access to over 1 million Indonesians who have never shopped online before. It currently supports more than 150,000 agents who are now able to start a digital store using the Kudo platform.

“We want to empower 1,000,000 digital entrepreneurs and enable millions of Indonesians to shop online for the first time by 2018," said Kudo COO Agung Nugroho.

Founded in early 2015, Kudo reportedly processes tens of thousands of transactions worth a few billion rupiah per day. (kes)

(Read also: Kudo charms unbanked customers into e-commerce world)

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