Jakarta, November 24th, 2022 – PT VENTENY Fortuna International Tbk (“the Company”) held a “Public Expose & Due Diligence Meeting” to introduce the Company’s business prospects, performance, and plans. The agenda is a part of the Company’s Initial Public Offering (IPO) process which VENTENY will become a public company whose shares are listed on the IDX (Indonesian Stock Exchange).
PT VENTENY Fortuna International Tbk is serves the needs of business owners (MSMEs and large enterprises) and employees by providing a combination of growth funding and human resources empowerment with the basis of technology. The Company works with partners to provide growth fundings to businesses and various employee benefits to employees.
VENTENY was founded by Jun Waide, a Japanese businessman and professional. VENTENY begun with VENTENY INC in Philippines (2015), then it expanded to Singapore (2016) with VENTENY Pte Ltd, and then finally started operation in Indonesia through PT VENTENY Matahari Indonesia (2019). As the business continued to grow, the management established a holding company, PT VENTENY Fortuna International Tbk, to strengthen the synergy of all subsidiaries (2021). VENTENY’s presence in three Southeast Asian countries gives the Company a broad perspective on market behavior.
“The key to business success is the solid relationship between business owners and employees. Business owners need capital to run their businesses and manage their employees; conversely, employees need a better working environment to maintain their performance. These material and non-material needs will evolve dynamically as generations change. For that, we create an inclusive and comprehensive service ecosystem. This have become our strong fundamentals which leads us to become profitable in the last two years” explained Jun Waide – Founder & Group Chief Executive Officer of VENTENY.
VENTENY Offers Unique Market Proposition
VENTENY promotes strategic collaboration by partnering with many parties to provide growth funding for the B2B (Business to Business) segment and human resources empowerment through an employee super-app platform for the B2B2E (Business to Business to Employees) segment.
VENTENY optimizes the founder’s network to partner with numerous financial institutions from Japan that offer relatively low costs of funds. VENTENY positions itself to close the gap between businesses that are not served by the banks while having more competitive rate than non-bank financial institutions. Thus, VENTENY, through financing partners in Indonesia, can disburse funding to MSMEs with competitive interest, supported by an integrated credit assessment process to minimize the risk of bad credit and a fast application process.
Meanwhile, through employee super-app services, VENTENY can help companies implement cost efficiency in providing employee benefits, such as welfare, protection, self-development, and entertainment benefits. VENTENY believes that happy and productive employees will support the company’s profitability. VENTENY offers four types of solutions in one application, namely “V-Financial” fintech, “V-Insurance” insurtech, “V-Academy” edutech, and “V-Merchant” lifestyle.
VENTENY Has Captured The Demand for Growth Funding and Human Capital Empowerment
Southeast Asian market is a big market for VENTENY, especially in Indonesia, where there were more than 66 million MSMEs in 2019, absorbing more than 120 million employees. Unfortunately, they experience limited access to capital and the ability to provide welfare for their employees. It is estimated that there are more than USD 300 billion in financial gaps (unmet business capital needs for MSMEs) in Southeast Asia, including more than USD 166 billion in Indonesia.
Since being established in Indonesia until Q3 of 2022, the Company had disbursed funds of more than IDR 2 trillion to business owners. Particularly during the pandemic when many companies were affected and experiencing crises. The Company’s revenue grew significantly by 230% on a YoY basis from June 2021 to June 2022. The Company’s net profit also grew 800% on a YoY basis from June 2021 to June 2022.
In November 2021, VENTENY launched an employee super-app to answer various employee needs and help business owners implement cost efficiency in providing employee benefits. Despite being only one year old, the service has been able to achieve:
- Transaction numbers have grown by 700% from 2021 to 2022.
- VENTENY app’s number of downloads has increased by 140% every month since its launch in November 2021.
- As of November 2022, this segment has contributed 27% to the Company’s total revenue, up from 17% in June 2022.
Profitable since 2021, VENTENY is Ready to Go IPO
The Company, as a group, has managed to record profits since 2021. Based on the audited financial statements as of June 30, 2022, the group’s net profit grew by 800% YoY. This achievement is VENTENY’s strength as a prospective technology company for the public with a solid position in this industry sector.
“We are grateful for the customer’s trust, so VENTENY has been profitable within two years of operation. This proves that VENTENY has worked well on market potential and demand. Through IPO way, we invite everyone to participate in creating the future of the solid industry ecosystem.” Jun Waide – Founder & Group Chief Executive Officer of VENTENY.
VENTENY oversees a large potential of the market to explore, so the company expects to improve its capital, human resources, and technology, which became the basis for the company to be listed in the Indonesia Stock Exchange through an Initial Public Offering (IPO). VENTENY hopes to gain more recognition and trust from stakeholders to achieve future business targets.
The price per share of VENTENY sets to IDR 350 – 450. VENTENY targets raising funds as high as IDR 422,900,595,000 (four hundred twenty-two billion nine hundred million five hundred ninety-five thousand Rupiah) or the equivalent of 15% of the total issued capital. The Company plans to use the IPO funds, minus the issuance costs, to increase the group’s working capital and support the Company’s business development and growth.
VENTENY has received a pre-effective letter from the Financial Services Authority (OJK) and opened a book building (initial offering) for potential investors from November 21-29th, 2022. Investors may reach the following underwriters, SF Sekuritas, Mirae Asset Sekuritas, and BRI Danareksa Sekuritas, to place orders for VENTENY shares with the issuer code VTNY.
