JAKARTA - PT Venteny Fortuna International Tbk (VTNY) will begin the construction of Venteny Super App to optimise its information-technology-based financing services. The investment set for this plan is estimated to reach IDR 50.28 billion, which will be taken out of its allocated business expansion budget from the proceeds of its IPO.

In the minutes of meeting of Extraordinary General Meeting of Shareholders quoted today (13/10), Zasa Pinkan Kinanti, Corporate Secretary of VTNY, confirmed that the company will develop its information system, particularly for the development of its super app called Venteny. “The company will develop several new features that will facilitate employees, including reimbursement, e-money, and e-wallet,” she explained.

In addition, there will be more extra features, according to the result of its research and development, in the future, such as big data, existing feature improvement, and implementation of artificial intelligence (AI).

The net proceeds of its IPO that was held on December 15, 2022, was IDR 312.34 billion. Shareholders then agreed upon the modification of the allocation of IPO proceeds to IDR 131.18 billion (42%) for loan to subsidiary, Venteny Matahari Indonesia (VMI), IDR 109.32 billion (35%) for business development, and IDR 71,83 billion (23%) for working capital.

The budget set for business development will cover product development, research and development for exclusive business members, as well as geographical expansion for its expansion. (LK/ZH)