Indonesia
Modalku’s Co-Founder Iwan Kurniawan Steps Down After 8 Years
SME digital financing platform Modalku’s Co-Founder Iwan Kurniawan announced that he will be officially stepping down from his leadership role after nearly eight years. Iwan, who spearheaded the company from its inception in 2015 until June 2023, transitioned out of
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Investree Gets US$7M Lifeline from SBI Holdings, Earmarks Majority for Salaries
Beleaguered Indonesian peer-to-peer (P2P) lender Investree has reportedly secured a critical US$7 million rescue package from its existing investor SBI Holdings, according to DealStreetAsia. Investree has earmarked US$4.5 million of this package for employee salaries, which encompasses owed salaries, benefits,
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Investree Plans Major Restructuring After CEO Adrian Gunadi’s Resignation
Investree, a peer-to-peer (P2P) lending fintech platform in Indonesia, has announced plans for a significant restructuring process to support its debtors who are facing financial difficulties. This move comes in the wake of the resignation of its CEO, Adrian A.
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WeLab’s Bank Saqu Onboards 300K Users in Indonesia Within 2 Months of Launch
Bank Saqu, a newly launched Indonesian digital bank, has raked up 300,000 users within the first two months of its operation. The digital bank, a joint venture between Hong Kong’s WeLab and Astra Financial, was introduced in Indonesia as part
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Adrian Gunadi Steps Down as Investree CEO Amid Misconduct Claims
Indonesian lender Investree‘s co-founder and CEO Adrian A Gunadi has tendered his resignation, effective 31 January 2024. This move comes amid allegations of misconduct and various challenges faced by the company, as reported by DealStreetAsia. Gunadi’s resignation letter, a copy
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DOKU Releases Wallet as a Service for E-Wallet Infrastructure Integration
Fintech firm DOKU recently announced the release of its new service, Wallet as a Service (WaaS). This new service provides an e-wallet infrastructure with APIs. This enables businesses to integrate e-wallet functions within their existing systems, thus allowing customers to
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Indonesia’s Crypto Boom Stumbles, Trading Volumes Plummet 60% Amid Tax Concerns
Indonesia’s cryptocurrency market, previously known for its rapid adoption rates, experienced a significant downturn last year, as trading volumes on local crypto exchanges plummeted by 60% compared to the previous year. Industry experts suggest that stringent tax policies are partly
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East Ventures’ Managing Partner Koh Wai Kit Steps Down, Transitions to Advisory Role
Indonesian venture capital firm East Ventures’ Koh Wai Kit, who had been serving as the Managing Partner since his appointment in 2021, has stepped down from his role. This was confirmed by sources close to DealStreetAsia. Prior to his tenure
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Reshaping the Chief Financial Officer Role in the Digital Age
Digital transformation and the proliferation of new technologies have catalysed an expansion in the Chief Financial Officer’s role, evolving CFOs from rearward-facing controllers to forward-looking strategists. Whereas their responsibilities historically centred on financial reporting, regulation, and control, CFOs now harness
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Former Lazada Execs’ Insurance Marketplace Lifepal Acquired by Roojai
Thailand-based Roojai Group announced the acquisition of Lifepal, an Indonesian digital direct-to-consumer (D2C) insurance marketplace, according to a report by TechNode Global. Lifepal was founded in 2019 by former Lazada executives Giacomo Ficari and Nicolo Robba, to offer over 300
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