Indonesia
Mizuho Leads Kredivo Holdings’ US$270 Million Series D Fundraise
Kredivo Holdings, the parent company of Kredivo and Krom Bank Indonesia formerly known as FinAccel, announced the close of its US$270 million Series D fundraise led by Japanese global bank Mizuho Bank. The oversubscribed round was joined by Kredivo’s existing
Read More
Bank Indonesia Now Has 122 Participants for Its Real-Time Payment Scheme BI-FAST
Bank Indonesia (BI) announced that it has onboarded another 16 participants for its domestic real-time payments scheme BI-FAST powered by ACI Worldwide. BI-FAST is accessible through applications or channels provided by the payment system industry to facilitate retail payment transactions
Read More
Brankas Scores Payment Licenses in the Philippines, Indonesia
Southeast Asian open finance platform Brankas announced that it has received payment licenses from Bank Indonesia (BI) and the Bangko Sentral ng Pilipinas (BSP). The firm managed to secure the Payment Service Provider (PJP) Category 3 license in Indonesia and
Read More
Fiat-Crypto Gateway Alchemy Pay Gets Licenses From Bank Indonesia
Fiat-crypto gateway payment provider Alchemy Pay teamed up with fintech firm Berkah Digital Pembayaran to secure licenses for remittance and fund transfer services from Bank Indonesia. Alchemy Pay said in a statement that the licenses will enable both entities to
Read More
MUFG and Bank Danamon Sets up US$100 Million Fund for Indonesian Startups
MUFG Innovation Partners (MUIP) and MUFG Bank, subsidiaries of Mitsubishi UFJ Financial Group (MUFG), has set up a US$100 million fund with Bank Danamon Indonesia. The fund named MUFG Innovation Partners Garuda No. 1 Limited Investment Partnership is MUIP’s third
Read More
Is Islamic Fintech Catching On in Indonesia?
With a burgeoning population and a young, tech-savvy workforce, Indonesia is ripe for fintech growth. In recent years, the country has seen a boom in fintech startups, and the industry is now one of the most promising in the country.
Read More
Indonesian Fintech Komunal Bags US$8.5M in Fundraise Led by East Ventures
Indonesian fintech firm Komunal announced that it has raised US$ 8.5 million in a funding round led by venture capital firm East Ventures. This funding round is also participated by AlphaTrio Sustainable Technology Fund, Skystar Capital, Sovereign’s Capital, Ozora, and
Read More
How World Bank’s US$ 250m Investment Will Fuel Indonesia’s Digital ID Revolution
The World Bank Group is issuing US$250 million to Indonesia as part of a wide-ranging move to strengthen the country’s digital identity, or ID, systems in what could see sweeping changes to how people can access (and make payments, among
Read More
Earned Wage Access Firm wagely Enables In-App Bill Payments
wagely, an Indonesian earned wage access firm, announced that it has enabled a bill payments feature for its users. Employees of wagely’s partners can now top-up Perusahaan Listrik Negara (PLN) electricity tokens and mobile phone balances. They will also be
Read More
Top 5 Fintechs in Indonesia to Watch in 2023
As we move into a new year, it’s time to start looking ahead to the next big thing in fintech. And there’s no better place to start than Indonesia. The country’s Ministry of Finance predicts that Indonesia’s economy could grow as much
Read More