Indonesia

Fintech Momentum in Indonesia Continues to Gain Steam

Indonesia’s fintech sector has grown at a fast pace these past couple of years, driven by a dynamic startup ecosystem, supportive governmental initiatives to encourage innovation and help improve financial inclusion, as well as rapid adoption of digital financial services

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Indonesian VC East Ventures Names Avina Sugiarto as Partner

East Ventures, an Indonesia-focused venture capital firm, announced the appointment of Avina Sugiarto as a Partner at the firm. Avina joined East Ventures as a Venture Partner in January 2022, where she brings 12 years of experience in investing across

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Earned Wage Access Startup Kini Raises US$ 4.3 Million Seed Funding

Kini, an Indonesian on-demand payroll provider, raised US$4.3 million in a seed funding round led by East Ventures, with participation from other investors. The firm will allocate the fresh funds to continue building out its HR-fintech product suite as well

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Indonesian Insurtech Rey Assurance Secures US$4.2 Million Seed Funding

Indonesian insurtech Rey Assurance announced that it has secured US$4.2 million in seed funding to advance its digital health products and technology platform. The funding round was joined by Trans-Pacific Technology Fund (TPTF), Genesia Ventures, and RDS. Rey said that it

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Indonesian Social Commerce Firm Mapan Secures US$15 Million Series A

Indonesian social commerce startup Mapan announced it has closed a US$15 million Series A funding round. The round was co-led by Patamar Capital and PT Astra Digital Internasional, a subsidiary of PT Astra International, with participation from BRI Ventures, SMDV,

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Flip’s US$100 Million Series B Round Sees Participation from Tencent and Block, Inc

Flip, Indonesian consumer payments platform, announced a second close of a Series B funding round that brings its total funds raised to more than US$100 million. The round was led by Tencent with participation from Block, Inc. (formerly Square, Inc.) and

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Here Are Indonesia’s Most Well-Funded Fintechs

These past years have seen Indonesia emerging into one of the hottest fintech markets in Southeast Asia, attracting local and foreign investors with the prospect of leveraging technology to address the massive pool of unbanked and underbanked individuals. In 2021,

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Indonesian Crypto Investment Platform Pintu Raises US$113 Million Series B

Pintu, an Indonesian crypto asset trading and investment platform, announced that it has closed a Series B funding round of US$113 million (Rp. 1.6 trillion). Investors joining the round include Intudo Ventures, Lightspeed, Northstar Group, and Pantera Capital. Through this

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Indonesian Robo-Advisor Bibit Raises US$80 Million in Fundraise Led by GIC

Indonesian digital investment app Bibit announced that it has raised more than US$80 million in a funding round led by GIC, joined by Prosus Ventures and other existing investors. Bibit said that the funds raised will be used for the

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Indonesian Fintech Unicorn Xendit Raises US$300 Million Series D

Xendit, an Indonesian payment gateway for businesses, announced that it closed US$300 million in a Series D funding round, bringing its total funds raised to US$538 million. Coatue and Insight Partners co-led the round with additional investment from Accel, Tiger

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