Indonesian Fintech Startup Privy Secures $48M in Series C

Indonesian digital signature and identity provider Privy announced that it has secured US$48 million in a Series C funding round led by global investment firm KKR.

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The round also witnessed participation from existing investors MDI Ventures, GGV Capital and Telkomsel Mitra Inovasi (TMI) as well as new investors including Singtel Innov8.

The investment will help Privy innovate further with new offerings and stronger capabilities as well as build a strong foundation for overseas expansion.

Marshall Pribadi, CEO and Co-Founder of Privy said: "We are thrilled to welcome KKR as among our new investors. Their participation in this latest fundraise, alongside the continued support by our existing investors, is testament to the progress we have made over the course of Privy's journey, and the conviction in our long-term vision of building digital trust through our platform and the potential of Indonesia's digital transformation."

"We look to leverage KKR's global network and operational expertise to take Privy to its next level of growth and extend its leadership in digital trust for individuals and enterprises in Indonesia and beyond," said Louis Casey, KKR's growth technology lead in South-east Asia.