OVO
OVO is an Indonesian digital wallet and financial-services platform operated by PT Visionet International.
Last updated August 31, 2026
AI crawler reads
No AI crawler has read this profile since Oct 28, 2026.
Overview
OVO is an Indonesian digital payment and financial-services brand operated by PT Visionet International, the digital financial-services subsidiary of Lippo Group. The service is headquartered in Jakarta and focuses on mobile payments, electronic money, financial access, and related consumer services across Indonesia. It is distinct from other brands named OVO and should be understood here specifically as the Indonesian payment platform covered by the article “OVO (payment service).” The company received authorization to operate as a fintech business throughout Indonesia from Bank Indonesia on 25 September 2017 under an electronic-money license. OVO launched its digital wallet in September of that year, entering a market in which mobile wallets were becoming increasingly important for both online commerce and everyday offline transactions. Its core offering enables users to make payments through a mobile application and to access a broader set of digital financial services. OVO expanded beyond basic payments during 2018, adding financial-service capabilities and building partnerships with merchants, financial institutions, and technology companies. In 2019, it acquired Taralite, the brand associated with PT Indonusa Nusa Sejahtera, to support lending-related services. It also introduced or developed investment and insurance offerings under the OVO Invest and OVO Proteksi names, respectively, in cooperation with external financial-services partners. Reported partners have included Adira Finance, Bank Rakyat Indonesia, Manulife Aset Manajemen Indonesia, and Prudential Indonesia. The platform attracted substantial strategic investment during its early growth. Tokyo Century Corporation announced an investment in December 2017, while Grab and Tokopedia subsequently became important corporate investors. OVO's estimated valuation reached US$2.9 billion in March 2019 according to CB Insights, and Indonesian authorities recognized it later that year as the country's first fintech unicorn. OVO was also described in contemporary reporting as Indonesia's leading electronic-money or digital-wallet service for online and offline transactions, based on a 2021 study by Kadence International. Ownership changed materially as Grab increased its position. In 2021, Grab acquired additional interests from Tokopedia, Lippo Group, and local investors. Reporting later described Grab as holding approximately 90% of OVO, following the acquisition of further stakes in October 2021. OVO remains positioned as a mass-market Indonesian digital-finance platform, combining payments with selected lending, investment, and protection products. By September 2023, reports stated that the service was available in approximately 600 Indonesian cities and regencies and had around 1.5 million users. Exact current user, ownership, financial, and geographic figures require verification against up-to-date company or regulatory sources.
History
OVO was established in Indonesia in 2017 by Lippo Group through PT Visionet International, its digital financial-services subsidiary. The company received permission from Bank Indonesia to operate nationally as an electronic-money provider on 25 September 2017. Its initial product was a digital wallet launched in September 2017, designed for mobile payments in both online and physical merchant environments. The early business developed through a combination of regulatory authorization, strategic investment, and service expansion. In December 2017, Tokyo Century Corporation announced an investment that represented a 20% stake in the startup. During 2018, OVO added financial services beyond its original payment function and received investment from Grab. These developments helped connect OVO to the wider Southeast Asian technology and commerce ecosystem. In 2019, Tokopedia invested in OVO. Around the same time, CB Insights estimated the company's value at US$2.9 billion. In October 2019, Indonesia's communications and information minister identified OVO as the country's fifth official unicorn, after Gojek, Traveloka, Bukalapak, and Tokopedia. It was also characterized as Indonesia's first fintech unicorn. That year, shareholders of PT Visionet International appointed Karaniya Dharmasaputra as president director, replacing Andrian Suherman, who had led the business for approximately three years. OVO expanded its financial-services portfolio through the acquisition of Taralite, associated with PT Indonusa Nusa Sejahtera, in 2019. The resulting service portfolio included lending-related products as well as investment and insurance offerings. OVO Invest was developed for investment products, while OVO Proteksi covered protection or insurance products offered with partners. Reported partners included Adira Finance, Bank Rakyat Indonesia, Manulife Aset Manajemen Indonesia, and Prudential Indonesia. Ownership shifted toward Grab in 2021. Grab acquired stakes held by Tokopedia and Lippo Group together with interests held by local investors. A later transaction in October 2021 was reported to have lifted Grab's ownership to approximately 90%. This made OVO a strategically important component of Grab's Indonesian digital ecosystem while leaving the service operating under PT Visionet International. In August 2022, Dyak NK Makhijani became president commissioner after Mirza Adityaswara departed the board of commissioners. By September 2023, published reports said OVO was available in roughly 600 Indonesian cities and regencies and had approximately 1.5 million users. OVO's historical development therefore follows the broader pattern of Indonesian fintech: it began as a regulated electronic-money wallet, expanded into adjacent financial products, attracted major technology investors, and became part of a larger regional platform through changes in ownership. Current operational scale, ownership percentages, management, and product availability should be checked against current regulatory filings and company disclosures.
- 2022
Commissioner transition
[1]Dyak NK Makhijani became president commissioner after Mirza Adityaswara left the board.
- 2021
Grab becomes dominant shareholder
[1]Grab increased its ownership through acquisitions of interests held by Tokopedia, Lippo Group, and local investors.
- 2019
Tokopedia investment and unicorn valuation
[1]Tokopedia invested in OVO, while CB Insights estimated the company at US$2.9 billion.
- 2019
First Indonesian fintech unicorn
[1]OVO was publicly recognized as Indonesia's first fintech unicorn.
- 2019
Taralite acquisition
[1]OVO acquired the lending company PT Indonusa Nusa Sejahtera, associated with the Taralite service.
- 2018
Expansion into financial services
[1]OVO added services beyond payments and received investment from Grab.
- 2017
Bank Indonesia authorization
[1]OVO received permission to operate nationally as a fintech company under an electronic-money license.
- 2017
Digital wallet launch
[1]OVO introduced its initial mobile digital-wallet service.
- 2017
Tokyo Century investment
[1]Tokyo Century Corporation invested in OVO in a transaction associated with a 20% stake.
Products and positioning
A broad Indonesian digital-finance platform centered on mobile payments and electronic money, with adjacent lending, investment, and insurance services delivered directly or through partners.
Electronic money and mobile payments · 2017
OVO digital wallet
OVO's core product is a mobile digital wallet operating under an Indonesian electronic-money license. It supports payments in online and offline settings and forms the foundation for the brand's broader financial-services ecosystem.
Investment services
OVO Invest
OVO Invest is the brand's investment-services offering, developed with financial-services partners. The available products and current regulatory status may vary and should be verified through current OVO and partner disclosures.
Insurance and protection
OVO Proteksi
OVO Proteksi refers to insurance or protection products distributed in cooperation with partners such as Prudential Indonesia. It extends OVO beyond payments into embedded or digitally accessed protection services.
Lending
Taralite
Taralite was associated with PT Indonusa Nusa Sejahtera, a peer-to-peer lending company acquired by OVO in 2019. The acquisition supported OVO's expansion into lending-related financial services.
Controversies
Brand decisions
2021
Grab increases ownership of OVOM&ABackground
Grab, Tokopedia, Lippo Group, and local investors held interests in OVO as the Indonesian digital-payments market consolidated.
Action taken
Grab acquired additional shares from Tokopedia, Lippo Group, and local investors, with later reporting describing Grab's ownership as approximately 90%.
Aftermath
OVO became predominantly controlled by Grab and more closely connected to Grab's regional digital ecosystem.
2019
Acquisition of TaraliteM&ABackground
OVO sought to broaden its business beyond electronic payments into lending and other financial services.
Action taken
OVO acquired PT Indonusa Nusa Sejahtera, the company associated with the Taralite peer-to-peer lending service.
Aftermath
The transaction added lending capabilities to OVO's financial-services portfolio.
Recent events
E.ON completes acquisition of UK energy supplier OVO[3]
E.ON has completed its acquisition of UK energy supplier OVO, a transaction announced in May, following recent approval by the UK Competition and Markets Authority (CMA). OVO will be fully integrated into E.ON, strengthening E.ON's position in the United Kingdom, its second-largest retail market. The parties have agreed not to disclose the purchase price.
- Unconfirmed
UK Competition and Markets Authority approves E.ON's acquisition of OVO[3]
The UK Competition and Markets Authority (CMA) recently granted approval for E.ON's acquisition of UK energy supplier OVO, following which E.ON completed the transaction.
OVO and the NBA launch World Champions clothing collection[4]
Reported:
OVO and the NBA collaborated on and released the World Champions clothing collection, featuring merchandise honoring six NBA championship franchises.
OVO announces K1 projector launch[5]
Reported:
OVO announced its K1 product, a projector combining a TV box, licensed video content and audio features.
OVO introduces £50m coronavirus support scheme[6]
Reported:
OVO introduced a £50 million coronavirus support scheme; eligible customers were to be able to receive support from Wednesday 8 April.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
- Unconfirmed
OVO sues Bellroy and Clae over owl logo[2]
OVO sued Bellroy and Clae, alleging that they collaborated on merchandise featuring a bird resembling OVO's owl logo and seeking an injunction, profits, and damages. The allegations are not established as findings.
OVO announces Tokyo flagship store opening[7]
Reported:
OVO was gearing up to open its first flagship location in Asia, in Tokyo, on October 19 at 11:00 a.m. JST. The article describes the opening as upcoming, not completed.
StickEarn closes US$5.5 million Series A funding round[8]
Reported:
StickEarn announced that it had closed an oversubscribed US$5.5 million Series A funding round co-led by East Ventures and SMDV, with Grab, OVO and Agaeti Ventures participating. StickEarn said the investment would enable it to explore opportunities in different verticals and enhance its data and analytics capabilities.
Sources9 sources
- 1OVO (payment service)en.wikipedia.org
- 2OVO sues Bellroy and Clae over owl logopower99.iheart.com
- 3E.ON完成对英国能源供应商OVO的收购investegate.co.uk
- 4OVO 与 NBA 推出 World Champions 服饰系列vman.com
- 5OVO发表K1无框电视chinatimes.com
- 6OVO推出5000万英镑新冠疫情支持计划energylivenews.com
- 7OVO宣布东京旗舰店开业计划modernnotoriety.com
- 8StickEarn完成550万美元A轮融资digitalnewsasia.com
- 9Drake's Company OVO Sues Merch Companies Over Owl Logotmz.com
Cite this profile: Cite the canonical profile. /brand-wiki/ovo · Editorial policy · How profiles are compiled