Transactions Rise, Fintech Cashlez Signs New Investments
PT Cashlez Worldwide Indonesia Tbk (ticker code: ‘CASH’) under the brand Cashlez, has achieved positive financial and operational performance over the past 9 months. Thanks to the sincere commitment, the company has managed to maintain business fundamentals amid the current Covid-19 pandemic.
This is evident from the increase in transactions which reached 50% and sales volume by 91% compared to the previous year (yoy). The company understands that throughout the primary half 2020, and for a few time to return, the COVID-19 pandemic will still be a challenge and affect the economy.
“During these challenges, the corporate continues to form innovations and adjustments in terms of products and services to strengthen its position as a payment gateway, said Tee Teddy Setiawan, President Director of Cashlez,” said Tee Teddy Setiawan, President Director of Cashlez.
Has Attracted more than 7,000 Business Partners
Throughout 2020 during the pandemic, Cashlez has collaborated with several business partners, banks, and non-banks, including Fabelio, Artajasa, Commonwealth Bank, ShopeePay, POST, and Vospay.
As of July, Cashlez has attracted more than 7 thousand businesses of various business scales. Based on data from Bank Indonesia (BI), the value of monthly electronic money transactions reached IDR 16.7 trillion in the January-July period. Its value is an increase of 59% compared to last year’s average transaction of IDR 9.9 trillion.
The various collaborations that have been carried out are one of Cashlez’s strategies in maintaining business during a pandemic which has now shifted to non-cash. This positive performance was also welcomed by domestic investors.
This is evidenced by the steady increase in CASH’s share price since the IPO in May 2020. In September 2020, CASH’s share price, which was recorded on the accelerating board, was observed to have strengthened more than 70% compared to the price at the time of the IPO.
Cashlez Tee President Director Teddy Setiawan did not specify the names or origins of investors who expressed interest. Currently, the company is exploring funding and possible participation in further corporate actions.
“There are foreign strategic investors who are interested in entering the company. We have finished signing a mutual confidentiality agreement. The next process is due diligence. After an agreement is made, we will definitely announce it.” close Teddy.
About the Cashlez Startup
PT Cashlez Worldwide Indonesia Tbk was established in 2015 “Cashlez” as its brand. It is a payment financial technology company that provides solutions for merchants and offers added value so that business owners can manage and grow their business.
The company created an mPOS (mobile point of sale) system that’s equipped with accepting card payments, either credit cards or debit cards supported an application on a smartphone (Android and iOS) connected to a card reader via bluetooth.
Apart from accepting cards, merchants can accept other digital payment methods such as QR code payments, Cashlez-Link for e-commerce payments and Virtual Account payments.
Cashlez develops POS & back-office reporting features for merchants, as Cashlez’s commitment to make it easier for merchants to manage and improve their business. In this case, the system can monitor all merchant sales transactions in real-time.
For information, Cashlez has received the MURI World Record award as “The First Payment Aggregator in Indonesia with Point-of-Sale Platform and Payment Options of Multi-Acquiring Bank in One App”.
In 2019, Cashlez also opened Service Centers in major cities in Indonesia, namely Bali, Bandung, Surabaya, Malang, Yogyakarta, Medan and Makassar. Currently, Cashlez has helped more than 7,000 business actors spread across Indonesia.
In May 2019, Cashlez obtained an official license as a Payment Gateway from Bank Indonesia and in early 2020, Cashlez officially became a Public Company (Tbk) in Indonesia.