KinerjaPay Corp (OTCMKTS:KPAY) announced Tuesday that CEO Edwin Ng is in discussions to explore synergistic and collaborative alliances with strategic investor Kozjin International Group (Kozjin).
Kozjin is an innovative fintech company using blockchain technology across its portfolio of businesses including real estate, showbiz, business schools, and aesthetic products, spread across Taiwan, Japan, Malaysia and Singapore.
Kozjin's recent success in real estate integration projects in Malaysia and Vietnam has transformed into a fully capitalized blockchain technology company, KinerjaPay said.
"This partnership will transform KinerjaPay Corp into a much stronger company,” Ng said in a statement.
“With Kozjin Group as our strategic investor, it will help KPAY grow beyond Indonesia to other markets such as Malaysia, Singapore, Vietnam, Taiwan and Japan."
Kozjin has a strong and growing presence in the region and is actively seeking to expand its footprint both in width and depth of market presence, and also in its portfolio of businesses using blockchain technology.
The strategic investment will focus towards building up KinerjaPay’s business revenue in the ecommerce sector, peer-to-peer lending platform, and expansion to other regions such as Malaysia, Vietnam, Taiwan and Japan.
"Upon the successful strategic investment, Kozjin will support KinerjaPay to enter into foreign markets which we currently have our foothold and presence, such as Malaysia, Vietnam, Taiwan and Japan,” said Dato' Sri Francis, Kozjin's founder and group chairman.
“We will introduce KPAY's platform to our existing market, and help reinvent the business to a new level," he continued. "We believe that this potential strategic investment will create a strong synergistic growth momentum for both KPAY and also Kozjin as a group."
Jakarta-based KinerjaPay is a micropayments and microloans business offering digital payments and an e-wallet system. The company has a target of reaching 25,000 loans per month down the road to achieving a minimum $5 million market size on a monthly turnover to turn profitable.
Contact the author: [email protected]
Follow him on Twitter @PatrickMGraham