Tagged: indonesia

Fintech Firm Xendit Secures $300M via Series D Co-Led by Coatue and Insight Partners

Singapore Asia

Xendit, one of the “fastest-growing” payments infrastructure platforms for Southeast Asia, announced that it closed $300 million in Series D funding, “taking the total amount raised to $538 million to power the world’s fastest-growing digital economy.” Coatue and Insight Partners co-led the investment round “with… Read More

Big Data Exchange (BDx) Expands Into Indonesia via $300M Venture

indonesia flag

Big Data Exchange (BDx), a data center solutions provider in Asia Pacific, recently announced that it has entered a conditional sale and purchase agreement of shares (CSPA) and joint venture agreement, “together with a series of commercial and operational agreements, with PT Indosat Tbk (Indosat… Read More

Real-Time Payments “Evolution” Underway as APAC Seeks Growth Frontiers: Report

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Asia-Pacific is getting ready for the next phase of its real-time payments journey as the region’s key service providers look for new growth opportunities and prepare “to enter the next stage of their real-time payments development.” This, according to the third edition of Prime Time… Read More

Digital Lending: JULO Raises $80 Million from Credit Saison

Indonesia Money

JULO, an online lender serving consumers in Indonesia, has raised $80 million in capital from Japan-based Credit Saison. The new funding is split between $30 million in equity plus a $50 million debt facility. Investors from previous rounds include Skystar Capital, Saratoga Investama, East Ventures,… Read More

Digital Banking: ZA Tech Now the Latest Investor in Aladin Bank – Indonesia’s Sharia Virtual Bank

Hong Kong Money Sparkle AI

Hong Kong – ZA Tech Global Limited, a Singaporean tech venture founded by ZA International and backed by Softbank’s Vision Fund 1, has become “the latest strategic partner to collaborate with Aladin Bank as an investor and a business partner, and is fully committed to… Read More

Fintech FinAccel, Parent Firm of Kredivo, Acquires Majority Ownership of Bank Bisnis

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PT FinAccel Teknologi Indonesia, a directly controlled subsidiary of FinAccel Pte Ltd, the parent firm of Kredivo, has announced the acquisition of “a majority stake in PT Bank Bisnis Internasional, Tbk., an IDX listed entity (ticker BBSI).” This acquisition represents a “significant step in FinAccel’s… Read More

Solana-powered ARPG Eizper Chain Acquires $2M from Seed Round, Private NFT Sale

Private

Eizper Chain, the blockchain action-based multiplayer ARPG, has reportedly acquired $2 million in capital via a seed round and private NFT sale. Overall demand for exposure to this blockchain project – the first game in the Eizper gaming franchise – is “accelerating,” according to a… Read More

Indonesian Esports Organization RRQ Chooses Zilliqa as Partner to Leverage Crypto, Web3

Asia

Vying to be the top team in the Southeast Asia region, Indonesian e-sports organization RRQ (Rex Regum Qeon) has selected “high-performance,” “high-security” blockchain platform Zilliqa as the partner in its plans “to revitalize fan engagement using crypto and Web3-powered products.” Known across the gaming community… Read More

Indonesian BNPL Fintech Akulaku Receives $100M Investment from Siam Commercial Bank

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Siam Commercial Bank (BKK: SCB) has reportedly made a $100 million investment in Indonesia’s Buy Now, Pay Later (BNPL) platform Akulaku. Established in 2016, Akulaku has expanded its operations to become one of the largest BNPL and consumer financing providers in Indonesia, handing out more… Read More

Indonesian BNPL Akulaku Joins Unicorn Club With $100M Series E

Unicorn

Akulaku, an Indonesian buy now, pay later (BNPL) firm, announced this week it has received $100 million from the Siam Commercial Bank in Series E financing. The news comes months after the firm announced a $125 raise which was co-led by Silverhorn Group, who has… Read More

Indonesia’s OJK has Prohibited Financial Service Providers from Supporting Cryptocurrency Trading

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Indonesia’s Financial Services Authority (OJK) recently announced that they’re strictly prohibiting the nation’s financial services providers from marketing or facilitating the trading of cryptocurrencies. The Indonesian regulator has cautioned that the value of virtual currencies are subject to market fluctuations and investors need to be… Read More

Boost, the Fintech Unit of Axiata Digital, to Expand Products, Strengthen Regional Presence

Asia

Axiata Digital’s Fintech division Boost is reportedly planning to expand its products and services while strengthening its regional presence. The firm announced these plans after a year of steady growth in revenues and product innovation. Boost reveals that its client base increased to more than… Read More

Digital Identity Provider ForgeRock Continues its Asia Expansion

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ForgeRock (NYSE: FORG), an international digital identity provider, recently announced its continued expansion across Asia and has made ForgeRock Identity Cloud “available locally from two new data centers in Indonesia and Hong Kong.” As mentioned in the update, this move expands ForgeRock’s Identity Cloud into… Read More

Cross-Border QR Payment Linkage Launched by Bank Indonesia and Bank Negara Malaysia

QR Code Fintech Insider

Bank Indonesia (BI) and Bank Negara Malaysia (BNM) announced on January 27, 2022 that they’ve launched a cross-border QR payment linkage. It will “enable instant, secure and efficient cross-border payments between Indonesia and Malaysia.” Via this linkage, consumers in both nations will be able to… Read More

BNP Paribas Asset Management Reveals How Digital Commerce Is Evolving as Big Players Emerge Outside China

BNP Paribas

Zhikai Chen, Head of Asia Equities at BNP Paribas Asset Management, notes that a number of factors justify their hopes for “a better year after the challenges that 2021 brought to Asian equities, and northern Asian equities in particular.” Chen writes in a blog post… Read More

Indonesian Fintech Flip Secures $48M via Series B led by Sequoia Capital India, Insight Partners, Insignia Venture Partners

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Indonesia’s Flip, a consumer payments platform, confirmed that it has secured $48 million via a Series B round that has been co-led by Sequoia Capital India, Insight Partners, and Insignia Ventures Partners. Flip’s latest investment round notably marks Insight Partners’, a New York-headquartered private equity… Read More

Asian Fintech Platform WeLab Announces Acquisition of PT Bank Jasa Jakarta

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WeLab, a pan-Asian Fintech platform, has announced the acquisition of PT Bank Jasa Jakarta (BJJ), which is a commercial banking institution based in Indonesia, with plans to introduce its second digital bank in Asia “further to the successful launch of WeLab Bank in Hong Kong.”… Read More

Indonesian Financial Wellness Firm GajiGesa Welcomes $6.6M pre-Series A

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GajiGesa, an Indonesia-based company that offers financial wellness solutions that include the Earned Wage Access (EWA) program, today announced a $6.6 million pre-Series A round. New contributors to the round include MassMutual Ventures, January Capital, Wagestream, Oliver Jung, Patrick Walujo, Chee-Yann Wong, RS. Bunda Group,… Read More

Indonesia’s Digital Wallet OVO Is Introducing Fixed Income Product

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Indonesia-based digital wallet OVO is teaming up with financial marketplace Bareksa and Bahana TCW Investment Management in order to introduce a fixed-income product. The Bahana MES Syariah Fund Kelas O is reportedly being offered only via the OVO app as part of the digital wallet’s… Read More

Super-app Grab Sees Service Disruption Weeks Ahead of Expected $40B SPAC Completion

grab mobile

Southeast Asian “super-app” Grab is working to restore service today, the company said. Customers across Singapore, Thailand, Malaysia, and Indonesia have reported trouble using the super-app, with some voicing their frustrations on social media. “We experienced a service disruption this morning that impacted a number… Read More

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