OnlinePajak raises Series A funding
By Digital News Asia December 8, 2017
- Funds will be used for product expansion
- Has registered 500,000 active users
INDONESIAN online tax platform OnlinePajak has raised approximately US$3 million (RM12.21 million) to US$5 million Series A funding round led by Alpha JWC Ventures, followed by Sequoia India. (US$1 = RM4.07)
OnlinePajak founder and director Charles Guinot (pic) says the funds will be used to create new products and innovative solutions to help SMEs, which will ultimately have a positive impact on the economy.
“Indonesia’s government is working hard to increase the tax collection ratio, which will facilitate higher infrastructure spending and economic growth.
“Online Pajak’s service aims to help the government achieve that goal by making it easier for companies to fulfil their tax obligations. We estimate that this year, OnlinePajak will help collecting 30 trillion rupiah (US$222 billion) in taxes,” said Guinot.
By partnering with investors like Alpha JWC and Sequoia India, Guinot says that OnlinePajak has the support to further develop its product offering for tax, HR, accounting, and payments as well as build a platform that delivers business efficiencies for Indonesian companies, and improved tax collection for the Indonesia government
Launched in 2015, OnlinePajak began with a focus on helping companies to prepare, pay, and file their taxes through one integrated platform, which is fully connected to the Directorate General of Tax (DJP) system.
The platform makes paying tax easy, effortless, and fast. Streamlining the tax process ultimately helps increase the nation’s tax compliance and income for the country.
OnlinePajak observed early on that multiple departments within a company were using its tax platform. Its set a clear objective of making the process easy for each of type of customer.
OnlinePajak now has modules used by HR departments to simplify payment of personal tax, capabilities for the accounting department to pay corporate tax, and services for accounts payable units to better manage the tax on invoices.
It will also launch a system or an application which will help users to organise and manage their payment of taxes online.
Over 500,000 users have already registered with OnlinePajak, and the numbers are growing each week. Its corporate customers include Garuda Indonesia, Telkomsel, Waskita Karya, Gojek, Bank Mandiri, PT Astra, Otoparts Tbk, and Huawei Tech Investment.