Posts From Fintech News 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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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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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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