Superbank Secures Additional $73 Million Investment from Grab, Singtel, and KakaoBank
Superbank, an Indonesian digital banking institution, has announced an additional funding round amounting to IDR 1.2 trillion (approximately $73.3 million) from its shareholders Grab, Singtel, and KakaoBank. This latest influx of capital is intended to bolster the bank's ongoing efforts to enhance its service offerings and develop innovative products tailored to meet the diverse financial needs and lifestyles of its customers.

Superbank, an Indonesian digital banking institution, has announced an additional funding round amounting to IDR 1.2 trillion (approximately $73.3 million) from its shareholders Grab, Singtel, and KakaoBank. This latest influx of capital is intended to bolster the bank's ongoing efforts to enhance its service offerings and develop innovative products tailored to meet the diverse financial needs and lifestyles of its customers.
Currently, Emtek holds the largest stake in Superbank with a 34.58% share. Following Emtek is Grab’s subsidiary, PT Kudo Teknologi Indonesia, with a 21.29% share, Singtel Alpha Investments Pte Ltd with an 18.93% share, and KakaoBank with a 10% share.
Tigor M. Siahaan, the President Director of Superbank, highlighted the importance of this investment by stating, “The ongoing support from Grab, Singtel, and KakaoBank extends beyond investment, as they also contribute their advanced technology, insights, and network assets to help accelerate our growth.” He emphasized that this additional funding would significantly strengthen Superbank in expanding its inclusive financial services and accessible financing for more underbanked retail customers and MSMEs in Indonesia.
In support of the investment, Neneng Goenadi, Country Managing Director of Grab Indonesia, remarked, “Grab understands the importance of delivering digital banking technologies with various innovative features that are easily accessible and can help consumers manage their finances better. Grab’s ongoing support for Superbank reinforces our shared commitment in enhancing financial inclusion across Indonesia.”
This substantial investment signals Superbank's commitment to advancing its services and reaching a broader segment of the population, particularly those who have been underserved by traditional banking systems. The bank aims to leverage the technological expertise and market insights provided by its prominent shareholders to remain competitive and innovative within the digital banking sector.
With the new funding, Superbank plans to focus on developing more inclusive financial products and services. This initiative aims to provide better access to financial services for retail customers and MSMEs, which are critical components of Indonesia's economy. The backing of major shareholders like Grab, Singtel, and KakaoBank not only brings financial support but also strategic guidance and technological advancements, enabling Superbank to implement cutting-edge solutions and improve its digital banking offerings.
Superbank's strategy involves leveraging the technological prowess of its investors to enhance user experience and provide more tailored financial solutions. By incorporating advanced digital banking technologies, Superbank is set to offer innovative features that simplify financial management for its users. This approach aligns with Grab's vision of delivering accessible digital banking solutions, as articulated by Neneng Goenadi.
The funding announcement was marked by the presence of key stakeholders including Sutanto Hartono, Managing Director of Emtek; Alex Hungate, COO of Grab; Adi W. Sariaatmadja, President Commissioner of SCM; Tigor M. Siahaan, President Director of Superbank; Neneng Goenadi, Country Managing Director of Grab Indonesia; Alvin Sariaatmadja, CEO of Emtek; Gan Siok Hoon, Managing Director of Singtel; and Yoon Ho Young, CEO of KakaoBank.
Superbank's move to secure additional funding from such influential partners underscores its commitment to financial inclusion and innovation. The integration of advanced technologies and strategic insights from Grab, Singtel, and KakaoBank is expected to propel Superbank towards achieving its goal of becoming a leader in the digital banking space in Indonesia.
As the bank continues to expand its services, the focus will be on creating accessible and inclusive financial solutions that cater to the evolving needs of its customers. This funding round not only enhances Superbank's financial capabilities but also reinforces its position as a key player in the Indonesian banking sector, dedicated to driving financial inclusion and innovation.
With the strong backing of its shareholders, Superbank is poised to make significant strides in transforming the digital banking landscape in Indonesia, ensuring that more individuals and businesses have access to the financial services they need to thrive.