Posts From Fintech News Indonesia
Indonesia’s Ajaib Kripto Witnesses Tenfold Surge in Bitcoin Trading Volume
Ajaib Kripto, the crypto trading application developed by Indonesian investment technology unicorn Ajaib, has announced a significant surge in its Bitcoin trading volume, marking a tenfold increase since the beginning of Q4 2023. According to the company, this development coincides
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AwanTunai Exceeds Series B Target, Raises US$27.5M Led by Norfund, MUIP
Indonesian fintech startup AwanTunai has successfully closed its Series B funding round, amassing US$27.5 million. The Jakarta-based company, known for its point-of-sale financing solutions aimed at digitising the nation’s predominant cash economy, has surpassed its initial target of US$25 million
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Indonesia’s Booming Digital Payments Drive Demand for Robust Mobile App Security
In the dynamic landscape of Indonesia’s digital revolution, the exponential growth of digital payments has generated an increased demand for robust mobile app security solutions. As financial institutions navigate the challenges of securing sensitive financial information and user data, a
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Bukalapak Pulls Plug on In-House BNPL Offering
Indonesian e-commerce leader Bukalapak has phased out its buy now, pay later (BNPL) service, BukaCicilan, as of 29 February 2024. This decision reflects the broader challenges facing the BNPL sector, which has seen several service discontinuations and exits in recent
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OJK Lifts Ban on Akulaku’s BNPL Service in Indonesia
Indonesia’s Financial Services Authority (OJK) has lifted restrictions on the buy now, pay later (BNPL) service offered by fintech firm Akulaku, according to a statement from the company to Tech in Asia. This decision marks a major turnaround for Akulaku,
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wagely Raises US$23M to Boost Earned Wage Access in Indonesia and Bangladesh
wagely, an Indonesian earned wage access (EWA) firm, has raised US$23 million in a funding round comprising both equity and debt financing. The round was led by Capria Ventures with contributions from existing investors and a private debt fund. The
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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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