Posts From Fintech News Indonesia
FinAccel Snaps up 75% Stake in Bank Bisnis to Bolster Its Digital Banking Plans
FinAccel Teknologi Indonesia, a directly controlled subsidiary of FinAccel which is the parent company of Kredivo, has announced the acquisition of a majority stake in Bank Bisnis Internasional, an Indonesia Stock Exchange-listed entity. At the end of the acquisition process,
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Bank Rakyat Indonesia Bolsters Its Credit Card Offering
Bank Rakyat Indonesia (BRI) has set out to make credit card applications and management seamless and convenient for its customers. The move is timely as this particular cashless payment method showed a 500% increase in 2020 during the pandemic. BRI’s
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Earned Wage Access Firm wagely Raises US$8.3 Million in Pre-series A Funding
wagely, an Indonesian financial wellness platform, announced that it has raised US$8.3 million in an oversubscribed pre-series A funding as the company scales its platform to help workers access their earned salaries on demand in Indonesia and Bangladesh. The funding
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Indonesia’s GoTo Set to Raise up to US$1.1 Billion With IPO
Indonesia’s GoTo Group announced its plan to carry out an initial public offering (IPO) on the Indonesia Stock Exchange (IDX). The IPO is expected to raise proceeds of at least IDR 15.2 trillion (US$1.1 billion) plus an additional IDR 2.3
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FinAccel Scraps SPAC Merger Deal With Victoria Park
FinAccel, the parent company of Indonesian Buy Now, Pay Later (BNPL) platform Kredivo, has scrapped its plans to merge with VPC Impact Acquisition Holdings II (VPCB), a publicly traded special purpose acquisition company sponsored by Victory Park Capital (VPC). Unfavorable
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AirAsia Rolls Out Financial Marketplace “Airasia Money” in Indonesia
AirAsia announced that it has rolled out a marketplace for financial products called ” airasia money” in Indonesia. Integrated within the AirAsia superapp, airasia money is a marketplace for financial products that offers a wide range of affordable financial offerings
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Akulaku-Backed Bank Neo Commerce Witnessed Strong Growth in 2021
Bank Neo Commerce (BNC), an Indonesian digital bank that is a subsidiary local Buy Now, Pay Later (BNPL) player Akulaku, has witnessed strong growth last year. Previously known as Bank Yudha Bhakti, the neobank launched its services back in March
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Indonesian Insurtech PasarPolis Names Former Amazon Exec as CTO
Indonesian insurtech firm PasarPolis announced the appointment of Rajesh Kumar as its Chief Technology Officer (CTO). PasarPolis said that Rajesh’s extensive experience with nearly two decades in the technology sector with global brands including Amazon and MakeMyTrip, makes him a
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Indonesian Open API Platform Ayoconnect Raises US$15 Million Series B
Indonesian open finance platform Ayoconnect announced that it has closed a US$15 million series B financing round led by Tiger Global. The round was joined by PayU, the payments and fintech business of Prosus, and Alto Partners, as well as
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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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