JAKARTA: PT VENTENY Fortuna International Tbk (VTNY) announced consolidated revenue of IDR 186 billion as of September 30, 2024, representing an 86% increase year-on-year. This growth was driven by its diverse business lines, with contributions as follows:
- B2B Financial Services: 40% or IDR 74.7 billion
- B2B2E VENTENY Employee Super App: 32% or IDR 58.2 billion
- Technology Development: 28% or IDR 52.7 billion
As of September 30, 2024, the Company achieved an EBITDA of IDR 13.7 billion and reported a net profit of IDR 2.6 billion.
Jun Waide, Founder and Group CEO of VENTENY, commented on the company’s performance, stating, “Our results demonstrate the increasing resilience of our portfolio. The ecosystem we’ve built, particularly the B2B2E Employee Super App, has seen significant growth. We are confident that our technology solutions will drive a strong close to 2024.”
Strategic Investments and Expansion Efforts in 2024
In 2024, VENTENY focused on bolstering its digital infrastructure, enhancing its organizational structure, forging regional partnerships, and expanding its asset base. These initiatives aim to support VENTENY’s next phase of business growth. Waide added, “Since our start in Indonesia in 2019, we’ve grown exponentially. Our focus now is on building a strong foundation to sustain this momentum and achieve our broader vision across Southeast Asia.”
B2B Financial Services and Funding Initiatives
VENTENY’s B2B Financial Services, the company’s largest revenue stream, saw a 26% revenue increase year-on-year. By September 2024, VENTENY had disbursed over IDR 1.2 trillion in growth funding to businesses and MSMEs in Indonesia. To support this growth, the company raised JPY 2.2 billion in low-cost funding from Japan, alongside additional funding from Singapore and Indonesian banks, further bolstering its financial services.
VENTENY is now poised to scale operations across Indonesia, working closely with local governments to bridge funding gaps for MSMEs. In South Sumatra, VENTENY has partnered with the Department of Cooperatives and SMEs. This network expansion includes partnerships in East Java and Bali, aiming to foster regional development.
VENTENY Employee Super App Recognized for Employee Welfare Innovations
The VENTENY Employee Super App experienced a 60% year-on-year growth as of September 30, 2024, driven by a surge in corporate clients, including Pertamina, Sompo, Astro, and Waskita Precast. For its contributions to employee welfare, the app was awarded Best Platform Innovation for Employee Welfare at the CNBC Indonesia Awards.
Damar Raditya, Group COO of VENTENY, highlighted the app’s ongoing success:
“VENTENY remains committed to innovating in support of employee welfare and Indonesia’s economic growth. With strong support from local governments and associations, we envision our ecosystem serving employees, MSMEs, cooperatives, entrepreneurs, and other stakeholders across Indonesia.”
