Posts From Fintechnews Indonesia

Indonesia’s OJK Bans Financial Institutions From Facilitating Crypto Trading

The Financial Services Authority of Indonesia (OJK) has strictly prohibited financial institutions from marketing or facilitating the trading of crypto assets. The regulator warned that the value of crypto assets are subject to market fluctuations and investors should be mindful

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Bank Indonesia Launches Its First Real-Time Payments Infrastructure With ACI Worldwide

Bank Indonesia (BI), the country’s central bank, has launched its first real-time payments infrastructure BI-FAST that is driven by ACI Worldwide, a global provider of real-time payments and digital payment solutions. BI-FAST is an integral part of Indonesia’s ongoing digital

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Indonesian Investment App Pluang Bags Additional US$55 Million

Pluang, an Indonesian all-in-one fractional investing app, announced that it has raised US$55 million in a funding round led by venture capital firm Accel. This is a follow-on round to its previously announced Series B, pushing its total investment to

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Indonesia’s SME-Focused Neobank KoinWorks Raises US$108 Million Series C

KoinWorks, an Indonesian neobank focused on small and medium-sized enterprises (SMEs), has secures US$108 million in a Series C funding round which consists of US$43 million in equity and US$65 million in debt capital. The round was led by MDI

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Binance and Telkom Indonesia’s MDI to Develop a Local Digital Asset Exchange

Crypto exchange platform Binance has established a joint venture with a consortium led by MDI Ventures to develop a new Indonesian-based digital asset exchange. MDI is a US$830+ million multi-stage venture capital arm of Indonesia’s largest telecoms company, Telkom Indonesia.

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UOB Indonesia Launches E-Commerce BNPL Service “TMRW Pay”

UOB’s mobile-only banking solution TMRW announced the launch of TMRW Pay, an e-commerce loan that enables consumers in Indonesia to manage their budgeting needs. TMRW Pay offers consumers deferred payment services, with zero interest for up to 90 days and instant

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Lending Fintech GajiGesa Closes US$ 6.6 Million Pre-series A Fundraise

GajiGesa, an Indonesian employee management and wellness platform offering Earned Wage Access (EWA) and other financial services, has closed an oversubscribed US$ 6.6 million (IDR 94.5 billion) in pre-Series A funding. The round was led by MassMutual Ventures, with participation

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Indonesian E-Wallet OVO Launches Its First Fixed Income Product

Indonesian digital wallet OVO, has collaborated with financial marketplace Bareksa and Bahana TCW Investment Management to launch its first fixed income product. The Bahana MES Syariah Fund Kelas O is said to be offered exclusively on the OVO app as

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Bezos-Backed E-Commerce Firm Ula Bags US$23.1 Million in Series B Extension

Indonesian B2B e-commerce marketplace Ula announced that it has secured an additional US$23.1 million funding in an extension of its Series B funding round from American investment firm Tiger Global. Binny Bansal, co-founder of Flipkart also participated to complete Ula’s

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Indonesian SME Lender Investree Secures US$10.5 Million in Debt Financing

Investree, an Indonesian B2B marketplace lending platform for Micro, Small and Medium Enterprises (MSMEs), announced that it has secured US$ 10.5 million in debt financing. The financing came from responsAbility Investments, a Swiss asset manager focused exclusively on sustainable investment

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