Shoraka Digital Ventures into Indonesian Fintech Market

KUALA LUMPUR: Shoraka Digital Ventures (SDV) is partnering with Indonesia’s PT Kennlines Capital, expanding its financial technology (fintech) business into the country. In a statement, SDV said the partnership would mark the first international venture by the company that would facilitate the offering of locally developed fintech solutions to the regional market.

SDV is the digital technology arm of Shoraka Group, founded in Dubai by a group of professionals with a business focus on financial advisory in the Southeast Asian and Middle East regions. Since its inception, the group has expanded its business activities into construction, property, digital technology, education, and the energy industry. Kennlines is an Indonesian investment holding company focusing on infrastructure, enterprise, digital and advisory. It has defined its portfolio in aspects of contributing to the development of the national economy.

SDV said the partnership showed its dedication to building on its expertise in the digital technology industry.

“With Kennlines’ strong domestic networking, this strategic collaboration will be the vehicle for SDV in effectively providing digital solutions to suit the needs of the Indonesian community, it added.

Shoraka Group founder Mohd Hasnul Ismar Mohd Ismail said the joint venture was a strategic collaboration with a strong partner that the company had been working with for several years in other aspects of the group’s businesses.

“Given the unique fintech solutions offered by Shoraka DV and Kennlines’ strong local networking, we aim to leverage on each other’s strength to unlock market opportunities in Indonesia, he said.

SDV managing director Johar Amat said the other region on its radar was the Middle East.

“We at Shoraka DV are constantly striving to innovate more digital solutions beyond fintech and looking to ink more strategic partnerships like this in other parts of the world to offer our digital solutions, added Johar.