Indonesia
Investors Bullish on Indonesia’s Fintech Sector
Fintech continued to lead Indonesia’s startup funding landscape in 2020, making up for most of the money raised that year, ahead of software-as-a-service (SaaS) and e-commerce. 2020 marked the fourth year where fintech dominated the amount of funding in the
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Standard Chartered Partners Bukalapak to Launch Digital Banking Offerings
Standard Chartered has formed a strategic partnership with Bukalapak to launch digital banking offerings which will be hosted on the nexus platform which is a banking-as-a-service solution by SC Ventures. Through this partnership, Standard Chartered and Bukalapak aims to bring
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Indonesian Fintech BukuKas Raises US$ 10M in Sequoia Capital India Led Round
BukuKas, a digital platform and app for digitising SMEs in Indonesia, has raised USD 10 million during its Series A funding round led by Sequoia Capital India, bringing the total funds raised to USD 22 million. Existing investors Saison Capital,
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ZA Tech Forms Insurtech Joint Venture With Indonesian E-Wallet OVO
ZA Tech, the Hong Kong-based technology venture founded by insurance company ZhongAn Online and backed by Softbank’s Vision Fund, announced that it has formed a joint venture with the holding company of e-wallet OVO, to offer Indonesian insurance companies easy
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Gojek Makes Financial Push in Indonesia With 22% Stake Acquisition in Bank Jago
Gojek has acquired 22% of Indonesia’s Bank Jago as part of a strategic partnership to offer financial services in Indonesia. The investment, made through Gojek’s payments and financial services arm, will reportedly be worth 2.25 trillion Indonesian rupiah (US$159 million).
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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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Grab Doubles Down in Indonesia With Investment in E-Wallet LinkAja and New Tech Center
Grab doubles down on Indonesia by leading a Series B funding round worth US$100 million in Indonesian e-wallet LinkAja and the establishment of a new Tech Center. The funding round includes investments from Telkomsel, BRI Ventura Investama, and Mandiri Capital
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Bukalapak and Microsoft Join Forces to Enhance the Indonesian E-Commerce Space
Microsoft and Bukalapak, an Indonesian e-commerce platform, have formed a strategic partnership where the latter will adopt Microsoft Azure as its preferred cloud platform. Microsoft will also make a strategic investment in Bukalapak. “This partnership signals a deep collaboration with
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Crowded Indonesian Market: 51 Licensed E-Money Providers
Bank Indonesia, the country’s central bank, has issued two new e-money licenses so far this year. These two new additions bring the total number of licensed e-money providers to 51, comprising 14 banks, and 37 non-bank providers, according to data
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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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