News

Indonesian fintech to go public on Swiss stock exchange

Achiko plans to submit an application for a direct listing on the SIX Swiss Exchange. The Indonesian fintech is a leading provider of payment services requiring neither a credit card nor bank account.

Bild: SIX
Image Credit: SIX

The Indonesian fintech Achiko announced its plans to go public on the SIX stock exchange in a press release. The company reportedly intends to list 100 million shares directly. In Achiko’s last round of financing these were valued at a US$ 0.70 per share, which therefore puts the total valuation of the fintech at US$ 70 million.

Achiko offers payments services for people who do not have a bank account or credit card. As part of its offering, the company’s subsidiary Mimopay enables people to pay for digital gaming content and services via a range of payment channels, such as telecom billing, game vouchers and more. Mimopay currently has two million users in Indonesia. Achiko also intends to expand its payments platform in Vietnam, Myanmar and the Philippines.

Until now, Achiko has been privately owned. A company spokesperson told news agency AWP that the decision to go public on the Swiss stock exchange was made on account of the country’s buoyant fintech environment.

Handbook for Investors

Our Handbook for Investors provides valuable information about technologies and production costs, taxes and financing, as well as the legal system and infrastructure in Switzerland. Browse through the complete handbook online or download the chapters most relevant to you.

Download
Recommend us
How should we contact you?

Premium Partner

Strategic partners

Institutional partner

Official program