Indonesia
Fairbanc to Enhance Indonesian Operations with US$13.3M Debt Financing
B2B embedded finance startup Fairbanc has secured US$13.3 million in debt financing from digital lending arm of Pegadaian, a subsidiary of Bank Rakyat Indonesia. According to DealStreetAsia, Fairbanc aims to utilise the newly acquired funds to broaden its operations in
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Former Grab Exec Mehrotra Leads JULO to Profitability, Eyes IPO Plans
JULO, an Indonesian fintech offering digital peer-to-peer lending, has announced it reached an annual recurring revenue surpassing US$120 million in 2023. The company also reported a 50% increase in its loan disbursement volume for the year, alongside achieving operational profitability
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Sea Group in Talks to Acquire Minority Stake in Indonesian Bank HiBank
Singaporean tech conglomerate Sea Group is reportedly poised to acquire a minority stake in HiBank, a subsidiary of PT Bank Negara Indonesia Tbk (BNI). Royke Tumilaar, BNI’s president director had confirmed this development. BNI, a state-owned entity and the controlling
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OJK Conducts In-Depth Probe on Investree Following CEO’s Misconduct Allegations
The Indonesian Financial Services Authority (OJK) is closely monitoring Investree, a fintech peer-to-peer lending platform, following public reports of potential operational and consumer protection violations. The regulator is conducting an in-depth investigation through direct examinations of Investree, responding to recent
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Helicap and Bank Danamon Join Forces to Support Fintech Growth in Indonesia
Fintech investment platform Helicap and Bank Danamon have partnered to to support the fintech industry in Indonesia. Both entities aim to provide comprehensive growth capital solutions to fintech and alternative lending firms as well as micro, small, and medium-sized enterprises
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Top Funded Fintech Startups in Indonesia in Early 2024
Who are the top funded fintech startups in Indonesia as of early 2024? With a rapidly growing economy and a tech-savvy population, Indonesia has become a hotbed for fintech innovation and startups, peering into the most well-funded fintech startups in
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Alchemy Pay Now Supports AlipayHK, DANA, QRIS, and GCash for NFT Purchases
Alchemy Pay, a Singapore-based provider of fiat-crypto payment solutions, has expanded its services in Hong Kong and Southeast Asia through the integration of popular regional payment platforms into its NFT Checkout. This includes AlipayHK, Indonesian digital wallet DANA, Quick Response
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Four Southeast Asian Stock Exchanges Agree to Build Joint ESG Ecosystem
Four major Southeast Asian stock exchanges – Bursa Malaysia, Indonesia Stock Exchange (IDX), the Stock Exchange of Thailand (SET), and Singapore Exchange (SGX Group) – have united to form the ASEAN Interconnected Sustainability Ecosystem (ASEAN-ISE). This initiative aims to promote
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Bezos-Backed B2B Marketplace Ula Reportedly Shutting Down Indonesia Office
B2B e-commerce marketplace Ula is reportedly on the verge of shutting down its Indonesian office. The news comes after the company experienced a period of “hibernation” in recent months, with its office closure anticipated by the end of this month,
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GoTo Shoots Down Rumours of Merger Talks With Grab
Indonesia’s GoTo Group, a ride-hailing service in Southeast Asia, denied reports that it is discussing a merger with Grab Holdings, another major player in the region. This announcement comes after speculation that the two companies were considering a deal, potentially
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