Tagged: indonesia

January 12, 2021 @ 9:45 pm By Omar Faridi  |  

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

January 11, 2021 @ 10:28 pm By Omar Faridi  |  

The economies of Southeast Asian countries performed quite well in 2020 despite the COVID-19 outbreak and related challenges. The Asian Development Bank (ADB) has projected a contraction of 3.8% for the region during 2020, which doesn’t seem too bad when compared to the Eurozone’s at… Read More

January 10, 2021 @ 10:20 pm By Samantha Hurst  |  

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

January 10, 2021 @ 7:00 pm By Jayanta Roy  |  

Peer-to-peer (P2P) lending has come a long way since its early days as a casual crowdfunding platform. Today, individual borrowers and small and medium-sized enterprises (SMEs) can access loans without the hassle of going through banks and lengthy financial assessments. Still, P2P lending is a… Read More

December 27, 2020 @ 9:53 pm By Omar Faridi  |  

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

December 24, 2020 @ 7:55 pm By Omar Faridi  |  

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

December 19, 2020 @ 3:59 pm By Omar Faridi  |  

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

December 11, 2020 @ 9:12 pm By Omar Faridi  |  

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

December 10, 2020 @ 1:50 pm By Milena Naitoh  |  

Digital lending platforms have made strong inroads in Southeast Asia over the past few years. In 2016 alone, peer-to-peer (P2P) business lending generated US$115.01 million—more than half of Southeast Asia’s total alternative financing market that year.  This growth can be attributed to a combination of… Read More

December 6, 2020 @ 11:03 pm By Omar Faridi  |  

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

November 26, 2020 @ 8:56 am By Omar Faridi  |  

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

November 25, 2020 @ 7:58 pm By Omar Faridi  |  

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

November 25, 2020 @ 1:42 pm By Samantha Hurst  |  

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

November 22, 2020 @ 8:10 pm By Omar Faridi  |  

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

November 11, 2020 @ 9:30 pm By Omar Faridi  |  

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

November 10, 2020 @ 11:34 pm By Omar Faridi  |  

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

November 5, 2020 @ 11:05 pm By Omar Faridi  |  

  Digital challenger banks have adopted several different business models in order to establish operations in the Fintech and banking sector. They’ve experienced a threefold growth (over 300% growth) during the past five years, according to a new report from the Singapore Fintech Association (SFA)…. Read More

November 4, 2020 @ 10:41 pm By Omar Faridi  |  

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

November 1, 2020 @ 4:09 pm By Omar Faridi  |  

Robo.cash, a peer to peer (P2P) lending marketplace, has provided an update on the performance of its loan originators in Q3 2020. The Robo.cash team revealed that its Spanish loan originator, Prestamer.es, has managed to record “one of the best results in the whole group.”… Read More

October 20, 2020 @ 11:13 pm By Omar Faridi  |  

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