Sinar Mas and Lazada Group completed a $555m investment in DANA.

Sinar Mas and Lazada Group, an e-commerce company, completed a $555m investment in DANA, a digital wallet-based financial technology company. “With an increasingly digitalized landscape in Indonesia and Southeast Asia, improving access to financial services and providing more payment options for both businesses and consumers are crucial developments. Even as Lazada remains focused on eCommerce, we see ourselves playing a key role in building technology, logistics and payments infrastructures that will benefit the region for the long term. Our investment in DANA represents a strategic move in the right direction,” James Dong, Lazada CEO.