Tagged: indonesia

October 28, 2021 @ 8:05 pm By JD Alois  |  

Investree, an online lender based in Indonesia, has raised $10 million that will be utilized to provide services to SMEs. The funding came from responsAbility Investments, an asset manager from Switzerland that focuses exclusively on sustainable investment. Additionally, Accial Capital, a tech-enabled investor in fintech… Read More

October 16, 2021 @ 7:08 pm By Omar Faridi  |  

KrediFazz, a subsidiary of FinAccel that operates as a P2P lending Fintech, has been issued a business license from the Financial Services Authority (OJK) via the Decree of the OJK Board of Commissioners Number: KEP-81 /D.05/2021, dated August 24, 2021. KrediFazz, a Fintech firm with… Read More

October 11, 2021 @ 10:26 pm By Omar Faridi  |  

PT Bank Jago Tbk recently announced that Ribbit Capital, which is one of the leading Fintech investors whose investments includes Tinkoff, Revolut, BharatPe, Robinhood, Affirm, Nubank, Coinbase and Credit Karma, has made an investment in Bank Jago, an Indonesia-listed tech -based bank with “a drive… Read More

October 6, 2021 @ 8:10 pm By Omar Faridi  |  

Singapore-headquartered Qapita, provider of equity management software-as-a-service (SaaS) solutions, has secured $15 million via a Series A round. Qapita’s investment round was co-led by East Ventures (Growth Fund) and Vulcan Capital, along with contributions from NYCA and other existing investors such as MassMutual Ventures and… Read More

September 23, 2021 @ 9:55 pm By Omar Faridi  |  

Indonesia-based payments Fintech Xendit has announced that it plans to relocate its financial hub to Malaysia. As reported by Fintech News Malaysia, the Fintech Unicorn confirmed these plans during a speech by Finance Minister, Tengku Datuk Seri Zafrul Tengku Abdul Aziz (which took place during… Read More

September 22, 2021 @ 10:50 pm By JD Alois  |  

SoftBank Ventures Asia has led the $30 million Series A funding round in OY! Indonesia. MDI, Pavilion Capital, AC Venture, CCV, Wavemaker, PT SAT, Saison Capital Pte. Ltd., and Orion Advisors (DST Founders) also participated in the round that had a valuation of around $100… Read More

September 8, 2021 @ 7:34 am By Omar Faridi  |  

Jeff App, the Latvian Fintech company offering a data-powered loan brokerage platform for unbanked or financially underserved consumers in Asia, has finalized a $1.5 million seed extension round, which was led by J12 Ventures. Jeff App has now secured a total of $2.5 million. Other… Read More

September 6, 2021 @ 10:52 pm By Omar Faridi  |  

Kadence International Indonesia has shared the findings of a new research study, titled Digital Payments and Financial Services Usage and Behavior in Indonesia. The extensive report is reportedly based on an online survey of 1,000 respondents carried out in July of this year in large… Read More

August 29, 2021 @ 11:00 pm By Omar Faridi  |  

Ethis Global Sdn Bhd, which operates “regulated” Shariah-compliant, “ethical” and impact focused investment crowdfunding platforms in Indonesia and Malaysia and social finance platform GlobalSadaqah, recently revealed that it finalized an RM6.8 million (appr. $1.62 million) pre-Series A round. The proceeds have will be allocated towards… Read More

August 23, 2021 @ 11:27 pm By Omar Faridi  |  

Virtual banks in Indonesia must have minimum paid-up capital of IDR 10 trillion (appr. $694 million). But the capital deposit needed when submitting an application is only IDR 3 trillion. Indonesia’s OJK (Financial Services Authority), the nation’s financial regulator, has shared an update to its… Read More

August 22, 2021 @ 7:28 pm By Omar Faridi  |  

Indonesia’s Lifepal, a digital direct-to-consumer (D2C) insurance marketplace, reveals that it has acquired an oversubscribed $9 million through a Series A round, bringing the total capital secured by the firm to $12 million. As noted by its management, Lifepal is the largest insurance marketplace in… Read More

August 16, 2021 @ 8:37 pm By Omar Faridi  |  

Vesta, the only “instant, end-to-end” transaction guarantee platform for making online purchases, recently revealed that it has been chosen by Bukalapak, which is one of Indonesia’s biggest tech firms. According to a release, Bukalapak will be leveraging Vesta’s extensive fraud prevention solution “to maximize approvals… Read More

August 4, 2021 @ 11:04 pm By Omar Faridi  |  

FinAccel, the parent of Kredivo, an AI-powered digital consumer credit platform based in Southeast Asia, and VPC Impact Acquisition Holdings II (NASDAQ: VPCB), a special purpose acquisition company sponsored by Victory Park Capital, revealed on August 2, 2021 that they have finalized a definitive agreement… Read More

July 8, 2021 @ 9:28 pm By Omar Faridi  |  

Workmate, a Southeast Asian Workforce Management Platform and marketplace for informal workers, has reportedly acquired a senior secured loan of “up to $10 million” from Lendable Inc., a provider of debt to Fintechs in emerging and frontier markets. As mentioned in the announcement: “A committed… Read More

July 7, 2021 @ 9:01 pm By Omar Faridi  |  

Real-time payments are becoming increasingly common as cash as a payment solution or method for consumers in Southeast Asia, according to research from ACI Worldwide (NASDAQ: ACIW) and YouGov. Three out of five or around 60% of consumers residing in Indonesia, Malaysia, Thailand and Singapore… Read More

July 5, 2021 @ 10:10 pm By Omar Faridi  |  

Indonesia’s digital wallet provider OVO has introduced a Shariah-compliant mutual fund product, which reportedly offers a fairly low buy-in for a product of its kind (less than $1). It lets investors instantly cash out their funds in real-time. The Syariah Syailendra OVO Bareksa Tunai Likuid… Read More

June 23, 2021 @ 10:55 pm By Omar Faridi  |  

Bank CTBC Indonesia, which operates as a special unit of CTBC Bank, an established private bank in Taiwan, recently revealed that it has introduced a digital lending platform for a personal loan product, known as KTA Dana Cinta. The KTA Dana Cinta product lets you… Read More

June 20, 2021 @ 9:08 pm By Omar Faridi  |  

Indonesia-based Brankas, an Open Banking services provider, recently revealed that it has managed to exceed 10 million monthly API calls with more than 80 network partners. The Brankas platform currently operates in over six different countries and has teamed up with over 30 financial institutions… Read More

June 20, 2021 @ 8:28 pm By Omar Faridi  |  

Indonesia-based Finantier, an open finance API platform, has secured an undisclosed 7-figure sum through a seed round that was led by Global Founders Capital and East Ventures. Finantier’s latest investment round was oversubscribed. The capital was raised at a post-money valuation of over 20 times… Read More

June 12, 2021 @ 7:24 pm By Omar Faridi  |  

Line has reportedly introduced its third digital banking platform in Southeast Asia through a partnership with PT Bank KEB Hana Indonesia. The introduction of the smartphone-only bank in Indonesia has come after similar launches in Taiwan and Thailand. The partnership between Line and Hana Bank… Read More