Indonesia’s LinkAja posts 30% revenue jump in 2022

Photo credit: LinkAja

LinkAja, an Indonesian fintech firm, announced that it has recorded a year-on-year revenue growth of 30% for 2022.

The company also said its operational expenses decreased by more than 50% over the same period. As a result, LinkAja saw its EBITDA loss narrow by more than 60% last year.

Reza Ari Wibowo, the firm’s chief of finance strategy, said that the company “has gradually shifted toward profitability and sustainability since 2021.”

In a statement, LinkAja said that it has refocused its business model to B2B2C since early 2022.

In the B2C segment, the firm prioritizes low-cost user acquisition and retention. Meanwhile, for B2B, it focuses on end-to-end value chains from offline and online channels.

The company projects that its revenue will grow by more than 80% this year, with operating expenses decreasing by 35% compared to last year.

In mid-2022, LinkAja laid off some of its employees as part of its efforts toward “reorganizing resources.”

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