Jakarta, 4 November 2024 – PT VENTENY Fortuna International Tbk (Ticker: VTNY) reported consolidated revenue of IDR 186 billion as of 30 September 2024, marking an 86% increase compared to the same period last year. This growth was driven by the Company’s business lines, with B2B financial services contributing 40% or IDR 74.7 billion, the B2B2E VENTENY Employee Super App contributing 32% or IDR 58.2 billion, and technology development contributing 28% or IDR 52.7 billion. As of 30 September 2024, the Company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) reached IDR 13.7 billion, with a net profit of IDR 2.6 billion.
Jun Waide, Founder and Group CEO of VENTENY, stated, “Our performance through September 2024 demonstrates the increasing resilience of our portfolio. The business ecosystem we’ve built, particularly the B2B2E Employee Super App, has grown significantly this year. We are confident that our consistent delivery of technology solutions from productive funding employees go-to-app will close 2024 on a high note.”
This year, VENTENY has focused on increasing its investments in digital infrastructure and enhancing its organizational structure, creating valuable partnerships locally and regionally, and expanding its asset base. These strategic investments are pivotal as VENTENY gears up for its next chapter of business expansion. “Since our inception in Indonesia in 2019, we’ve experienced exponential growth. Now, we are dedicated to strengthening our foundation to sustain this momentum and achieve our broader vision across Indonesia and Southeast Asia,” Jun added.
VENTENY’s B2B Financial Services, as the main contributor to VENTENY’s revenue, saw a 26% revenue increase year-on-year. From the beginning of the year until 30 September 2024, VENTENY has disbursed more than IDR 1.2 trillion in growth funding to businesses and MSMEs in Indonesia. From January to September 2024, VENTENY raised JPY 2.2 billion in low-cost funding from Japan to support our financial services growth. This, combined with funding from Singapore and Indonesian local banks, further strengthens our capacity for growth.
With these strategic investments and funding, VENTENY is ready to scale our business across Indonesia. As part of our efforts to bridge the funding gap for MSMEs, we have also gained strong support from local governments and associations. VENTENY has formed a solid partnership in South Sumatra with the Department of Cooperatives and SMEs. Building on this, we are expanding our network into more cities, including East Java and Bali, through strategic partnerships with local governments and associations to support regional growth.
Moreover, the VENTENY Employee Super App continued its robust performance in 2024, with a 60% YoY growth as of 30 September 2024. This increase was mainly due to the increase in the number of users of the super app, coming from the increase in the number of established companies using our services, such as Pertamina, Sompo, Astro, and Waskita Precast. For this strong performance, the CNBC Indonesia Awards recognized the VENTENY Employee Super App as the Best Platform Innovation for Employee Welfare.
Damar Raditya, Group COO of VENTENY, emphasized, “VENTENY will continue to innovate to meet employee welfare needs and support Indonesia’s economy through regional business acceleration. With strong backing from local governments, the private sector, and associations, we believe VENTENY’s ecosystem will soon be accessible to employees, MSMEs, cooperatives, entrepreneurs, and other stakeholders across Indonesia.”
