warung_pintar_funding

Update: The previous version of this article has been updated to include statements from Warung Pintar.

Indonesian new-retail startup Warung Pintar today announced that it has raised another US$4 million funding round, following a US$4 million seed funding round that the startup has raised in February.

Vertex Ventures, Pavilion Capital, and LINE Ventures participated in the current funding round.

In a press statement, Warung Pintar said that the investment will accelerate its mission to help improve the quality of warung (kiosks, mom-and-pop stores) in Jakarta and to encourage tech inclusion for micro-enterprises.

“We are going to expand outside the Greater Jakarta Area in the earlier next year in order to give real opportunities to all Indonesians. Furthermore, to better achieve our mission, we are building a team of passionate people that is willing to solve this hyper-local problem in Indonesia. We’re aiming to have a couple hundred more warungs by the end of 2018,” Warung Pintar Business Development Lead Dista Mirta told e27.

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The startup said that its kiosk base has grown by 3,477 per cent with an average monthly growth of 187 per cent since its launch in January. It currently have 319 kiosks across Greater Jakarta Area, operated by “more than” 500 micro-entrepreneurs.

It also claimed to have 12,000 potential kiosk-partners in waiting list.

Warung Pintar has also recently secured a partnership with Go-Pay to enable payments with the Go-Jek e-wallet system on its kiosks.

“We keep innovating and listening to what our customers and kiosk partners need so that the technology is accessible and easily used by all kinds of community. We are trying to solve hyper-local problems that these warungs have on their daily basis with the state-of-the-art technology and global knowledge of the product. Therefore we’re building a team of engineers with strong technical understanding and a big heart for Indonesians grassroots,” said Warung Pintar CTO Sofian Hadiwijaya.

Image Credit: Warung Pintar