JAKARTA. PT Cashlez Worldwide Indonesia Tbk (CASH), a fintech company that provides solution for merchants, booked revenue of IDR 101.64 billion in the first half of 2023.

CASH’s revenue in H1 2023 reportedly grew 140% year-on-year (yoy) from IDR 42.98 billion seen in the same period in 2022.

Despite the increase, CASH still struggled, recording loss of IDR 5.88 billion in H1 2023. However, according to the official statement, the management mentioned that the loss in H1 2023 was much lower than the loss of IDR 9.64 billion seen in the same period last year.

Irianto Kusumadjaja, President Director of CASH, said that his party will continue to focus on increasing the number of merchants by strengthening its sales force. This strategy is believed to be able to assist the company to attain the target of extra 10,000 new merchants until the end of this year.

“Therefore, the revenue target set by the company could be attained, which amounts to IDR 200 billion in consolidation,” Kusumadjaja added.

According to IDNFinancials data, total assets of CASH in H1 2023 rose 22.79% to IDR 278.68 billion. Previously, at the end of 2022, its total assets were worth only IDR 225.48 billion. (KR/ZH)