Shoraka DV to Tap into Indonesia’s Fintech Market via JV

JAKARTA, April 13 (Bernama) – Shoraka Digital Ventures (DV) has entered into a joint venture (JV) with Indonesia’s PT Kennlines Capital to expand its financial technology (fintech) business. This marked the first international venture that would facilitate the offering of its fintech solutions to the regional market, the Malaysia-based company said in a statement today.

Shoraka DV is the digital technology arm of Shoraka Group, founded in Dubai, while Kennlines is a holding company focusing on infrastructure, enterprise, digital and advisory. The group’s founder Mohd Hasnul Ismar Mohd Ismail said this JV was a strategic collaboration with a strong partner that Shoraka Group had been working with for several other 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.

Shoraka DV managing director Johar Amat said the company also planned to enter the Middle East market.

“We’re 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, he said.

Source: Bernama