Indonesia’s giant online travel platform Traveloka will stop offering bill payment and top up services. Meanwhile, Indonesia’s fintech firm Akseleran has slashed around 60 employees, and Astra International plans to acquire Indonesia’s automotive platform OLX Indonesia.
Traveloka stops bill payment services
Indonesia-based online travel platform Traveloka will stop providing bill payment and top-up services, including phone credits, utilities, and electricity token payments in October this year, TechinAsia reported.
Payments for housing taxes and other property-related bills will be phased out starting August 11, according to a notification on the app. The housing tax feature was Traveloka’s collaboration with the Indonesian government, announced in September 2019.
Since last year, Traveloka has shut down some of its non-core businesses including food delivery, logistics, and e-grocery services to be more focused on its core travel vertical. Earlier this year, the unicorn also laid off some of its employees across different markets, many of whom were from its fintech division.
Akseleran lays off employees
Indonesia’s fintech firm Akseleran announced it has laid off 60 employees after scrapping its IPO plan. This is the first layoff exercise the company has undertaken since its inception in 2017.
“The restructuring aims to bring Akseleran in optimal size to run its business efficiently and sustainability,” Akseleran CEO and co-founder Ivan Tambunan told DealStreetAsia.
Previously, Akseleran scrapped its IPO plan due to uncertainty in finding strategic investors. The company will still pursue the IPO plan until June 2024.
Astra acquires OLX Indonesia
Indonesia’s conglomerate PT Astra International Tbk plans to acquire PT Toko Bagus or OLX Indonesia, an Indonesia auto online commerce platform.
Astra through its subsidiaries, PT Astra Digital Mobil, will acquire 99.98% shares of Toko Bagus from Silver Indonesia, while PT Astra Digital Internasional will acquire the rest of the shares, according to the disclosure on Thursday.
Astra will hold a shareholder general meeting on August 14, 2023, to seek approval for the acquisition of OLX Indonesia.
Earlier this year, DealStreetAsia reported that OLX Group downsized its Indonesia office and put its automotive business on the market for sale.