Bukalapak, Carro, Grab, and Traveloka Support Allo Bank

After rebranding from Bank Harda in June 2021, Bank Allo experienced positive growth. Various strategic actions continue to be intensified to accelerate its business, including establishing partnerships with CT Group, Salim Group, Bukalapak, Grab, Carro, and Growtheum Capital Partners through the recently announced rights issue.

Bank Allo was acquired by CT Corp through its parent company in the field of financial services PT Mega Corpora in March 2021. Its mission will be to turn it into a digital banking application.

In its initial phase, the Allo application will be connected to various merchants and services in the CT Corpora ecosystem. However, until now the application has not been officially launched to the public.

Bukalapak itself acquired the largest percentage of shares in the action, which was equal to 11.49%. Abadi Investment itself is an entity owned by the Salim Group. Meanwhile, H Holdings indicated an investment arm affiliated with Grab.

“For Bukalapak, through the Partner business and its connectivity with new verticals in the MSME market, this collaboration can expand its offerings as well as credit accessibility for business actors in rural areas,” said Acting President Director of Bukalapak Willix Halim.

Currently Bank Allo is a fully licensed bank that offers personal, business and joint account products. This additional fund increased Bank Allo’s main capital to more than IDR 6 trillion and made Allo one of the digital banks with strong capital in Indonesia.

“We are enthusiastic to launch our loan service in Indonesia, where there are nearly 280 million people, but 50 percent of them do not have bank accounts and 15 percent are underbanked with limited access to loan, investment and insurance products,” said the Commissioner of the Bank. Hello Ali Gunawan.

This startup hopes to provide easy access to financial products for all levels of Indonesian society through a brand they know and trust.

Traveloka Is Also Included As A Strategic Partner

This partnership between a number of companies is also seen by Managing Partner of Growtheum Capital Partners Amit Kunal as a key driver to have a positive impact on the business and individual needs of Indonesian society.

Complementary partnerships between trusted companies such as CT Corp and Salim Group with leading technology players such as Bukalapak, Carro, Grab, and Traveloka will give Allo access to consumers and merchants from all relevant categories, namely retail, commerce, ride-hailing. , delivery, travel, and auto.

“We are enthusiastic to work with management and shareholders to create credit products according to the needs of the Indonesian people and help develop sustainable businesses across economic cycles and generations,” said Amit.

Neneng Goenadi, Country Managing Director of Grab Indonesia, said the same thing. According to him, the open ecosystem approach can accelerate the digitization of the financial industry and encourage financial inclusion throughout Indonesia.

“This partnership will bring benefits for everyone, including businesses and small businesses by helping them grow together in line with the development of the digital economy.”

Partnership with Traveloka and Carro

Meanwhile, Traveloka Co-Founder & CEO Ferry Unardi shared their goals in this collaboration. Traveloka is very enthusiastic about Allo’s presence in its ecosystem.

“As a lifestyle superapp, we are an independent platform with various credit providers in Indonesia and we will work closely with Allo to tailor these loan products to the lifestyle needs and aspirations of our users.”

As a platform, Carro claims that he has always tried to innovate and create products according to the needs of partners and consumers.

This partnership is seen as a continuation of Carro’s journey in providing a powerful digital first experience and using big data to benefit consumers.

“This partnership will give us access to exciting digital banking products to meet the needs of our partners and consumers in Indonesia,” said Carro Co-founder & CEO Aaron Tan.