Tagged: indonesia

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

June 3, 2021 @ 8:33 pm By Samantha Hurst  |  

  Mambu, a Germany-based SaaS banking platform provider, announced earlier this week it has teamed up with Google Cloud to power Bank Jago, a Indonesia-based digital bank. Mambu reported that Bank Jago is considered the first organization to benefit from the Bambu-Google Cloud collaboration. Jago… Read More

May 31, 2021 @ 10:40 pm By Omar Faridi  |  

PT. Bank Rakyat Indonesia Agroniaga (BRI Agro) has teamed up with local agent-based Fintech firm Payfazz. Using the API of its digital lending app Pinang, BRI Agro’s online savings and lending solutions will be offered to 250,000+ Payfazz agents. Agents can provide the same service… Read More

May 19, 2021 @ 1:01 pm By Samantha Hurst  |  

  BukuKas, an Indonesia-based fintech, announced this week it secured $50 million through its Series B funding round, which was included participation from Gokul Rajaram, Director and Board Member at DoorDash, as well as Taavet Hinrikus, Co-Founder and CEO of  Wise (formerly TransferWise). Founded in 2019, BukuKas describes… Read More

May 4, 2021 @ 11:07 pm By Omar Faridi  |  

Indonesian peer to peer lender Amartha has acquired $28 million (appr. IDR 405 billion) in capital from Women’s World Banking Capital Partners II (WWB) and MDI Ventures. Amartha‘s round also received contributions from existing investors Mandiri Capital Indonesia and UOB Venture Management. WWB Capital Partners… Read More

May 4, 2021 @ 10:27 pm By Omar Faridi  |  

Indonesia-based Bibit.id, a digital investment app provider, has reportedly secured $65 million in capital via a round led by Sequoia Capital India. Bibit’s investment round was also joined by Prosus Ventures, Tencent and Harvard Management Company. Existing investors AC Ventures and East Ventures also took… Read More

April 8, 2021 @ 10:34 pm By Omar Faridi  |  

The blockchain-based decentralized applications (dApp) industry has seen “tremendous” growth, according to a report from DappRadar. There’s been a 639% increase in active wallets across all blockchain or distributed ledger technology (DLT)-enabled platforms during Q1 2020. The report reveals that there were around 458,000 daily… Read More

April 1, 2021 @ 8:26 pm By Omar Faridi  |  

Atome Financial, the parent firm of Buy Now, Pay Later (BNPL) company Atome, has reportedly finalized its acquisition of financing service provider PT Mega Finadana Finance in Indonesia. The terms of the deal have not been shared publicly. The acquisition should help Atome Financial with… Read More

March 15, 2021 @ 11:17 pm By Omar Faridi  |  

Indonesia-based Validus’ subsidiary Batumbu has obtained regulatory clearance to serve as a licensed and authorized online financing platform. The approval has been given by the Indonesian Financial Services Authority (OJK). Since it first began offering services in 2019, Batumbu has reportedly issued more than S$207… Read More

March 9, 2021 @ 11:11 pm By Omar Faridi  |  

Indonesia’s digital wallet platform LinkAja has chosen Indian software firm PureSoftware’s Arttha digital payments suite which will be powering the wallet provider’s core systems. The move is said to be consistent with LinkAja’s goal to further expand and strengthen its market presence as a payment… Read More

March 8, 2021 @ 10:22 pm By Omar Faridi  |  

WeLab, an established Asian Fintech firm, has finalized its Series C-1 $75 million funding round, which was led by Allianz X. Allianz X is the digital investment division of Germany’s Allianz Group, one of the world’s largest insurance service providers and fund managers. Since launching… Read More

March 5, 2021 @ 8:15 pm By Omar Faridi  |  

Indonesia-based Fintech firm PAYFAZZ has revealed that it invested $30 million in Xfers, a Singapore-headquartered business. The investment was made to establish a new financial entity, known as the Fazz Financial Group (FFG). PAYFAZZ stated that the companies will be keeping their respective names while… Read More

March 3, 2021 @ 10:45 am By Samantha Hurst  |  

  Xendit, an Indonesia-based digital payment infrastructure, announced on Wednesday it secured $64.6 million through its Series B investment round, which was led by Accel with participation from YCombinator. Founded in 2014, Xendit is a fintech that provides payment solutions and simplifies the payment process… Read More

March 3, 2021 @ 6:30 am By Milena Naitoh  |  

The ASEAN economy is expected to become the fourth-largest economy in the world by 2030, growing at a pace of over 5% per year. Small and medium enterprises (SMEs) are the biggest contributors to this regional growth — they account for between 89% and 99%… Read More

February 25, 2021 @ 10:50 pm By JD Alois  |  

Crowdo has announced the launch of a new platform in Indonesia that is described as the first “SME digitalization platform powered by Neobank technology.” According to Crowdo, the platform seeks to help businesses digitalize their operations that improve supply chain operations with financial and banking… Read More

February 24, 2021 @ 10:22 pm By JD Alois  |  

PT Amartha Mikro Fintek a peer-to-peer lender that provides access to capital to micro and small entrepreneurs (MSEs). Founded in 2010, Amartha pivoted into a peer-to-peer lending platform in 2016 and is now one of the biggest P2P lenders in Indonesia. According to Amartha, the… Read More

February 19, 2021 @ 7:51 pm By Omar Faridi  |  

Southeast Asia-based Funding Societies, a digital financing platform, has revealed that it has made S$2 billion (appr. $1.5 billion) in disbursals of business financing to SMEs across the region as the company enters its sixth year of offering loans. Funding Societies’ management noted that the… Read More

February 4, 2021 @ 11:58 pm By Omar Faridi  |  

Indonesian digital wallet provider OVO has teamed up with Manulife Aset Manajemen Indonesia (MAMI) and its partner Bareksa in order to introduce an instant redemption mutual fund. OVO stated that the new offering is the first of its kind in the Southeast Asian country. The… Read More

January 15, 2021 @ 9:39 pm By Omar Faridi  |  

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

January 15, 2021 @ 8:47 pm By Omar Faridi  |  

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