KinerjaPay Corp., (OTCQB: KPAY), a digital payment and e-commerce platform, announced on Monday it has received a signed commitment from PT. Investa Wahana Group, Indonesia to invest $200 million, subscribing for $100 million in shares of the company's Series F and an addition $100 million in shares of its Series G Convertible Preferred Stock.
KinerjaPay's use of proceeds is to fund its peer-to-peer (P2P) lending operations, potential acquisitions and strategic investments in the Company's home-based region as part of their expansion plan for 2019. The Company also plans to allocate a certain portion of the subscription proceeds to repurchase KinerjaPay's stock in the open market, subject to the rules and regulations of the SEC. In 2019, the Company will expand into prepaid mobile business, p2p lending, mobile payment solutions, online gaming, and eCommerce services initially in Indonesia's growing economy and expanding in SE Asia. Additionally, the company intends to make investments in certain related industries in other foreign countries.
This entry was posted in Fintech, Investment Platforms and Marketplaces and tagged e-commerce, investment, kinerjapay, online lending, p2p, pt. investa wahana group. Bookmark the permalink.