Indonesian Start-Up Seeks Swiss Listing

Jul 3, 2019Updated Jun 4, 20251 min read

Jakarta-based Achiko wants to list 100 million shares on SIX, the Swiss stock exchange, it said on Wednesday. The shares were valued at $0.70 during its last fundraising, which would make for proceeds of $70 million.

Its seven-year-old subsidiary Mimopay offers payment services for consumers without bank accounts – thus far, the company has won 2 million clients. Mimopay’s offering includes services to pay via smartphone, at ATMs, or directly at vendors. The company said its service has potential among the 1.7 billion people with no bank account.

From Indonesia, the fintech led by president Allen Wu and CEO Kenneth Ting wants to expand to Myanmar, Vietnam and the Philippinen. To do so, Achiko plans to seek strategic partnerships with local firms.

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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