Indonesia’s tax management startup OnlinePajak raises US$25M led by Warburg Pincus | Digital Asia
Indonesian tax solution platform OnlinePajak has received a Series B funding worth of over US$25 million led by Warburg Pincus. Global Innovation Fund, Endeavor Catalyst, Alpha JWC Ventures, Sequoia India, and Primedge also participated.
According to CEO and founder of OnlinePajak Charles Guinot, the funding will be used to develop new features to support tax solution, including AI and blockchain options, which will be an expanded capability on their end.
“We’re looking to help companies in increasing their productivities and doing business easier while supporting Direktorat Jenderal Pajak (Tax Directorate General) managing the tax,” said Guinot.
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OnlinePajak aims to reduce the administrative loads of companies by providing easy management of tax. The web-based app is integrated to count, submit, and report tax under one platform, all to support users in doing their tax obligation.
OnlinePajak also provides its users with features like invoicing and payroll to add to the tax management option.
“We believe that OnlinePajak has contributed a tech solution for fulfilling tax obligation on an end-to-end platform, and it will help the country’s business running more efficiently,” said Head of Southeast Asia of Warburg Pincus, Jeffrey Perlman.
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Warburg Pincus is a private equity company focusing on growth investment since 1966. In Southeast Asia, Warburg Pincus has invested more than US$1.5 billion, including in Go-Jek.
Before this round, OnlinePajak also received a Series A funding just in the end of last year by Alpha JWC Ventures.
Currently, the platform that has been recognized by World Economic Forum claims to serve more than 900 thousand users, among them are notables like Garuda Indonesia (Persero) Tbk, Telkomsel, PT Astra Otoparts Tbk, Sinarmas, and Tokopedia.