Tagged: indonesia

Indonesia: Fasset Technologies Partners with Mastercard to Digitize Banking

Fasset Technologies Limited has partnered with Mastercard to expand financial services in Indonesia and create opportunities for underserved consumers The announcement follows Fasset’s $22 million Series A from this past April. According to a statement from Fasset, the companies will join in digitizing banking services… Read More

Kini, an Indonesian On-Demand Payroll Provider, Raises $4.3M in Seed Funding

Kini, an Indonesian on-demand payroll provider, has secured $4.3 million of seed funding led by East Ventures, with participation from Ten13, OurCrowd, K50 Ventures, and Goodwater Capital. Kini will “allocate the fresh funds to continue building out its HR-Fintech product suite, and invest in expanding… Read More

Rey Assurance Finalizes $4.2M Round, Launches Insurance Products with ISO/IEC 27001 Certification

Rey Assurance, which claims to be the first dedicated and integrated health, life and critical illness Insurtech company in Indonesia, recently announced $4.2 million in seed funding to advance its digital health products and tech platform. In addition to announcing the funding from the Trans-Pacific… Read More

Japan and Indonesia Sign Letters on Cooperation Framework Regarding Innovation in Financial Sector

Japan’s Financial Services Agency (FSA) and the Financial Services Authority of Indonesia (Otoritas Jasa Keuangan: OJK) have exchanged letters on Fintech Cooperation Framework “regarding Innovation in the financial sector.” This will lead to “increased exchanges regarding innovative trends and strengthen the cooperative relationship between the… Read More

Indonesia’s Consumer Payments Fintech Flip Secures Second Close of Series B, Bringing Total to $100M+

Flip, Indonesia’s consumer payments platform, announced a second close of a Series B funding round “led by Tencent, with participation from Block, Inc. (formerly Square, Inc.) and existing investor Insight Partners.” A number of experienced operators “participated meaningfully in this extension round, including Guillaume Pousaz,… Read More

New Payment Methods Introduced in Malaysia, Indonesia for Mass-Market Wirex Wallet

Wirex, a crypto payments firm, has made their recently launched non-custodial wallet more accessible to APAC users “after releasing a new payment method.” The addition of instant bank transfers and local payment systems for Indonesian and Malaysia customers “to purchase crypto on the app will… Read More

Razer Fintech Announces Acquisition of PT E2Pay Global Utama

Razer Fintech, the financial technology arm of Razer, the global lifestyle brand for gamers, recently announced the acquisition of PT E2Pay Global Utama, which claims to be one of the leading B2B2C digital payment facilitators and e-money players in Indonesia. Razer Fintech is an O2O… Read More

Indonesia based Robo-Advisor Bibit Acquires $80M via Round Led by GIC

Indonesian digital investment app provider Bibit recently revealed that it had acquired over $80 million via a funding round that was led by GIC, along with contributions from Prosus Ventures as well as other existing investors. Bibit’s management noted that the capital secured will be… Read More

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

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

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

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

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 – 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

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

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

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

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

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

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

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

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