Search Results for: indonesia

New Digital Banking Services to be Offered by Standard Chartered and Indonesia’s Bukalapak via the Nexus Platform

Standard Chartered has teamed up with Indonesia’s Bukalapak in order to offer digital banking services which will be hosted via the Nexus platform, an established Banking-as-a-Service (BaaS) solution by SC Ventures. Standard Chartered and Bukalapak will be working closely so that they can provide innovation… Read More

Fintech Firms in Indonesia Attracted Substantial Funding throughout 2020 Along with Digital Commerce and SaaS Platforms: Report

Indonesia-based Fintech platforms and services have continued to receive substantial investments despite the COVID outbreak. These Fintechs have acquired a significant portion of the total funds invested in Indonesian startups throughout 2020. According to reports, Fintechs in the country have acquired more capital than software-as-a-service… Read More

Indonesia based Fintech Firm BukuKas Secures $10 Million in Funding via Series A led by Sequoia Capital India

A major part of Indonesia’s economy is supported by SMEs, which represent approximately 60% of the nation’s GDP. Many of the small businesses depend on a lot of manual processes and bookkeeping, however, the impact of the Coronavirus pandemic has led to SMBs becoming more… Read More

Indonesian Peer-to-Peer Lender Alami Reportedly in Talks to Finalize More Than $10 Million Through Series A Funding Round Led By AC Ventures

ALAMI, an Indonesia-based peer-to-peer lender, has reportedly finalized more than $10 million through its Series A funding round. According to DealStreetAsia, the investment round was led by AC Ventures. Founded in 2017, ALAMI describes itself as a peer-to-peer finance platform that connects funders to SMEs. “We… Read More

Y Combinator backed Indonesian Fintech Finantier to Expand Operations into Emerging Markets

Indonesia-based Fintech firm Finantier has revealed that it has acquired an undisclosed amount of capital from US-based startup accelerator Y Combinator. Finantier will be joining Y Combinator’s Winter 2021 funding cycle, which is scheduled to begin in January 2021. Finantier is planning to expand its… Read More

Insurtech: Hong Kong’s ZA Tech and Digital Wallet Provider OVO to Offer Insurance Tech Capabilities to Indonesian Firms

Hong Kong based ZA Tech, a technology venture launched by insurance firm ZhongAn Online and supported by the Softbank Vision Fund, has revealed that it teamed up with the holding company of digital wallet OVO. Through the partnership, both organizations will offer insurance providers in… Read More

Indonesian Tech Giant Gojek has Reportedly Paid Nearly $160 Million for Shares in Indonesian Bank Jago as Part of Major Fintech Deal

Indonesian tech giant has reportedly paid around $159.5 million for shares in an Indonesian bank (PT Bank Jago) – which is part of a major Fintech deal. Gojek is competing with ride-hailing app provider Grab which is also focused on establishing regional Fintech services. Gojek… Read More

Regulated Indonesian Digital Asset Exchange Tokocrypto to List Binance backed Injective Protocol’s INJ Token

The Injective Protocol token will be listed on Tokocrypto, an Indonesia based digital assets exchange. Tokocrypto’s management noted that they intend to officially list INJ tokens beginning on December 11, 2020 (at 4:00 AM UTC). This should help with opening up “the best avenue for… Read More

At least 322 Fintech Firms are Now Based in Indonesia including Digital Payments, Online Lending Platforms: Report

Indonesia has the 16th largest economy in the world with a GDP of over $1 trillion. It’s also the world’s fourth most populous nation with around 275 million residents, out of which about 85% are below the age of 54. The Southeast Asian country has… Read More

TransferWise Customers in Indonesia Can Now Send Remittance Payments to 80 Different Countries

Fintech firm TransferWise recently announced that Indonesians and ex-pat workers will now be able to send money from Indonesia to 80 different countries, which includes Australia, Singapore, Japan, US, UK, China (Alipay) — and across Europe as well. TransferWise users are now able to send… Read More

Fintech Platforms in Indonesia to Support Expected Rise in Investments, especially from Young Investors following COVID Outbreak

The Indonesian Central Securities Depository (KSEI) has noted that Fintech platforms are expected to support the rise in the number of Indonesia’s retail investors in the foreseeable future, especially as the country’s younger consumers begin to seriously explore investment options after the COVID-19 outbreak. As… Read More

Indonesian Digital Credit Platform Kredivo Closes Up To $100 Million Warehouse Financing Facility With Victory Park Capital

Kredivo, an Indonesia-based digital credit platform, announced on Tuesday it and Victory Park Capital Advisors, LLC (VPC), a private credit specialist, announced closed a committed debt facility of up to $100 million to fund consumer loans for Kredivo’s borrowers in Indonesia. Kredivo reported that the… Read More

Indonesian President Joko Widodo Says Local Fintechs Must Adopt Good Governance Practices to Support Rapid Tech Developments

Indoensian President Joko “Jokowi” Widodo recently requested Fintech firms in the country to adopt good governance practices and become more accountable so that they can reduce the risks associated with rapid tech developments in the financial services sector. President Widodo noted during the recently-held Indonesia… Read More

Ride Hailing Firm Grab, a Diversified Business that Includes Financial Services, Leads $100 Million Round for Indonesia’s LinkAja

Ride-hailing service Grab, which has diversified its business and includes Grab Financial Services, has reportedly led a $100 million Series B investment round in Indonesia-based e-money institution LinkAja. LinkAja’s digital wallet and merchant services businesses are notably the flagship product of PT Fintek Karya Nusantara… Read More

Indonesia’s Social Security Program Provider, KMSB, Partners Logiq to Offer Microlending Services to Local Residents

Logiq, Inc., a multinational provider of digital commerce and Fintech solutions, has been chosen to offer mobile micro-lending services to 48 million Indonesian residents. The loan services will be provided through a partnership between Logiq and Koperasi Mona Santoso Berjaya (KMSB), which is Indonesia’s social… Read More

Fintech Lending in Indonesia Might Not be Able to Fully Support Participation from Retail Investors

LendingClub (NYSE:LC) recently filed an 8-K with the US Securities and Exchange Commission (SEC) indicating its intent to stop offering retail notes by the end of the year. The leading marketplace lender in the US started as a peer to peer lender but over the… Read More

Indonesian Fintech Investor, BRI Ventures’ CIO Says Company will Use $250 Million Fund to Create “Real Value,” Not Just High Valuations

Indonesia is one of Southeast Asia’s largest markets for digital platforms and services. The country offers an attractive business environment and opportunities for investors who are interested in projects that aim to take advantage of fast-growing economies. BRI Ventures, the investment division of Indonesia’s oldest… Read More

Triyono Gani, Head of Digital Finance Innovation at Indonesia’s Financial Services Authority, Compares Fintech with Traditional Banking

Triyono Gani, the head of digital finance innovation at Indonesia’s Financial Services Authority (OJK), notes that it may have taken a long time for people to understand one of Bill Gates’ quotes, “Banking is necessary, but banks are not.”  Gani points out that Gates actually… Read More

Indonesia based Digital Commerce Marketplace Provider Tokopedia Wins “Best Companies to Work for in Asia” Award

Indonesia based Tokopedia, an e-commerce marketplace that had announced a $1.5 billion funding round from Softbank, Alibaba, Temasek back in January 2020, has reportedly won the HR Asia Award 2020. The tech firm has been recognized as one of “The Best Companies to Work for… Read More

Financial Inclusion Rate in Indonesia Reaches Record Highs, but Over 2,500 Illegal Fintech Businesses have been Shut Down

The role of Fintech platforms and services in supporting public services in Indonesia has become more prominent and relevant due to the global COVID-19 outbreak. Fintech service providers are now offering more digital payments options which allow Indonesians to pay for everyday expenses, instead of… Read More

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