Netzme, A Fintech Application Startup, Targets Initial IPO in 2020

Netzme application startup companies are ready to begin the process of carrying out an Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX). The company targets the funding from the IPO to be reached by no later than the first half of 2020.

Netzme CEO Vicky G. Saputra said the IPO plan had been planned since the first semester of 2019 but he had just obtained a license from Bank Indonesia (BI) on December 19, 2019, as the issuer of Electronic Money (e-money) with Letter Number 21/584 / DKSP / Srt / B and as a Fund Transfer Operator in the context of providing Funds Transfer through Electronic Money with license number 21/270 / DKSP / 98 dated December 19, 2019.

“We expect to find funding of USD 10-15 million. Later it will have to be discussed again with BI. But this will be the main funding of around 90%. All will be used to develop information technology (IT). There is still much to be developed,” Vicky said in Jakarta, Thursday (12/26/2019).

He admitted that now his party would be more careful and obliged to consult every corporate action with BI. As the main requirement for an IPO, it must keep the main controller from changing.

Permission from BI Is an e-Money Permit and Funds Transfer

Licenses currently held for two services; e-money and fund transfers. While for financing it is also looking for P2P lending partners. “We prefer to find partners for financing. Now we are studying a number of potential candidates. It is better to collaborate at this time,” he said.

Until now, the Netzme application has been used by more than 2.5 million users throughout Indonesia, and 97 percent of them come from suburban areas, such as Ciamis, Serang, Solok, Salatiga, Tapaktuan, Ruteng, and other remote areas.

This is following Netzme’s vision and mission to provide the most pleasant solution for people who have not been touched by financial access services (unbanked) throughout Indonesia. “Next year the plan to add 10-12 million users, especially if the IPO also runs smoothly. The average user is spread in Java and Sumatra,” he said.

Vicky added, the next Netzme target was to immediately be able to complete Netzme’s participation in the implementation of the Quick Response Code Indonesia Standard (QRIS) payment program from Bank Indonesia.

Netzme Will Continue the Program of 1,000 Villages and Digital Islamic Boarding Schools (Pesantren)

Vicky said with these two certificates, Netzme was more determined to continue the program of 1,000 Digital Villages and Islamic Boarding Schools spread throughout Indonesia.

“After officially obtaining the permit, the focus is now on a better, more enjoyable and more inclusive and literacy program for financial communities in Indonesian cities and towns. Especially those who do not yet have access to finance (unbanked). By obtaining the permit, we can re-develop the program “1000 Netzme Digital Village and Pesantren throughout Indonesia,” he explained.

Netzme is a community-based payment application with a variety of financial services access services and a variety of creative micro-entrepreneurship development features. This concept was inspired by the spirit of “good samaritan” or “mutual cooperation” typical of Indonesian culture through the development of Digital Netzme Villages throughout Indonesia.

Therefore, Netzme through features that already exist such as features of social media services, gamification, PPOB, finance, and e-money hope to be accepted easily for users throughout Indonesia, especially the unbanked community.

This is one of Netzme’s strategies to encourage users to actively participate in using the Netzme application and at the same time participate in financial inclusion and literacy programs in a more pleasant way.

The ultimate hope is that Netzme’s vision and mission which supports the Government Non-Cash Movement Program through fun and entertaining ways for unbanked people in small towns and villages can be more easily realized.