Indonesia
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
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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
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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
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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
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Indonesia Expected to be South East Asia’s Biggest BNPL Market by 2025
BNPL has become a popular payment option in Indonesia due to its convenience and flexibility. With relatively low financial inclusion and even lower credit card penetration, BNPL offers the Indonesian public an alternative to pay a lower upfront amount for
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East Ventures to Invest US$500K in Winners of Its Hackathon for Laid-off Tech Talent
Indonesia-focused venture capital firm East Ventures announced that it has selected 30 teams from its hackathon programme for laid-off tech employees, PASTI BISA, Maju Terus Pantang Mundur (IDPB MTPM). The programme received a total of 270 submissions where 120 shortlisted
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Binance Buys Majority Stake in Indonesia’s Tokocrypto, Lays off 58% Of Workforce
Global cryptocurrency exchange Binance announced that it has become the majority shareholder in Indonesia’s crypto assets digital exchange Tokocrypto. Details of the transaction was not disclosed. Tokocrypto is the first crypto exchange in Indonesia to be registered under the Trade
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Travel Insurance Represents Massive Opportunities for Insurtech as The World Reopens
Insurtech startups in the Southeast Asian region are capitalising on the heightened need that consumers now have for travel coverage, even as the majority of countries globally relax travelling restrictions in earnest. In the recent past, this sort of travel
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FinAccel Appoints Slack’s Former CFO Allen Shim to Its Board Ahead of IPO Plans
FinAccel, the parent company of Indonesian Buy Now, Pay Later (BNPL) platform Kredivo, announced that Allen Shim has joined its Board of Directors. Allen was the senior finance leader for Slack since it was an early-stage startup and most recently
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Indonesia’s BI-FAST to Expand Its Real-Time Payment Services and Banks Participation
Indonesia’s domestic real-time payments scheme BI-FAST, launched by Bank Indonesia and powered by ACI Worldwide, has announced plans to launch a wide range of new real-time payment services. BI-FAST payment services will be extended to include bulk credit, direct debit
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