Indonesia

Indonesia Fintech Report and Map 2020

Indonesia has the world’s 16th largest economy and is the world’s fourth most populous country with 274 million people, out of these 84% below the age of 54. With Internet penetration standing at 67% and financial inclusion remaining a key

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Booming Indonesian Digital Finance Sector to See Revenues Reach US$8.6B by 2025

Indonesia, the largest economy in Southeast Asia and the eighth largest in the world in terms of purchasing power parity, has become one of the fastest growing fintech markets in the region. By 2025, digital financial services revenues in Indonesia

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Buy Now, Pay Later Adoption Takes off in Indonesia

Buy now, pay later (BNPL), also referred to as paylater, has become one of the most popular payment options in Indonesia. After digital money (82.2%), it’s the second most used fintech product in the country, recording a penetration rate of

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Indonesia: An Insider’s View into ASEAN’s Fintech Crown Jewel

Indonesia’s fintech industry is entering a new era of growth and maturity, triggered by the COVID-19 pandemic, booming venture funding activity, and a proactive regulatory environment that has committed to fostering innovation to help improve financial inclusion, top executives from

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Fintech Activity Accelerates in Indonesia With Multiple Startup Fundraises

Fintech activity is accelerating in Indonesia, a trend marked by significant startup venture capital rounds, accelerated growth of local fintech startups, and increased participation of foreign companies in the domestic market. These past months have been seen a multitude of

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Ribbit Capital Snaps up a Minority Stake in Indonesian Digital Bank Jago

Venture capital firm Ribbit Capital has snapped up a minority stake in Bank Jago, a Gojek-backed digital bank. Ribbit Capital had previously invested in Tinkoff, Revolut, BharatPe, Robinhood, Affirm, Nubank, Coinbase and Credit Karma. Prior to this, ride hailing super app

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Indonesian E-Commerce Firm Ula Bags US$87 Million From Jeff Bezos, Tencent

Indonesian B2B e-commerce marketplace Ula has raised US$87 million in a Series B funding round co-led by Prosus Ventures, Tencent and B-Capital. The trio are joined by Amazon founder Jeff Bezos’ Bezos Expeditions, and Southeast Asian funds Northstar group, AC

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FinAccel Raises Additional US$125 Million PIPE Investment Ahead of IPO Plans

FinAccel, the parent company of Buy Now, Pay Later (BNPL) platform Kredivo, announced that three of its existing investors has joined its PIPE deal which is in excess of US$125 million. The investors in the PIPE deal are MDI Ventures,

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Payments Firm OY! Indonesia Bags US$30 Million in Series A Led by SoftBank

Indonesian payments aggregator OY! Indonesia announced that it has raised US$30 million (Rp. 443.2 billion) in a Series A funding round led by SoftBank Ventures Asia (SBVA). The financing round was also joined by other prominent investors such as MDI,

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Indonesian Payments Firm Xendit Minted as Unicorn With US$150 Million Fundraise

Indonesian payments firm Xendit is now a unicorn with the closing of its US$150 million Series C funding round. The round was led by Tiger Global Management with participation from existing investor Accel, Amasia, and Justin Kan’s Goat Capital. With

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