Indonesia
BIS and Bank Indonesia Launch the Third G20 TechSprint Focused on CBDCs
The Bank for International Settlements (BIS) Innovation Hub and Bank Indonesia has launched the third G20 TechSprint Initiative, focused on developing new solutions for central bank digital currencies (CBDCs). The initiative will be one of the side events of Indonesia’s G20
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Gobi Partners, Ozora Launch US$10 Million Fund for Indonesian Female Founders
Venture capital (VC) firms Gobi Partners and Ozora Yatrapaktaja have partnered to launch a US$10 million seed fund for women-led startups in Indonesia, called the Ratu Nusa Fund. The fund will support seed-stage and pre-Series A companies focused on health
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Indonesian Digital Lender JULO Bags US$80 Million Funding From Credit Saison
Indonesian digital lender JULO announced that it has secured US$80 million funding from Credit Saison, a Japanese financial services company affiliated to Mizuho Financial Group. This funding includes a mix of US$30 million in equity and US$50 million in debt
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Investment App Gotrade Raises US$15.5 Million, Expands to Indonesia
Fractional share trading startup Gotrade has raised US$15.5 million in a Series A round led by Velocity Capital Fintech Ventures, bringing its total funding to US$22.5 million. The funding round also saw participation from MUFG, BeeNext, Kibo Ventures, as well
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FinAccel Snaps up 75% Stake in Bank Bisnis to Bolster Its Digital Banking Plans
FinAccel Teknologi Indonesia, a directly controlled subsidiary of FinAccel which is the parent company of Kredivo, has announced the acquisition of a majority stake in Bank Bisnis Internasional, an Indonesia Stock Exchange-listed entity. At the end of the acquisition process,
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Earned Wage Access Firm wagely Raises US$8.3 Million in Pre-series A Funding
wagely, an Indonesian financial wellness platform, announced that it has raised US$8.3 million in an oversubscribed pre-series A funding as the company scales its platform to help workers access their earned salaries on demand in Indonesia and Bangladesh. The funding
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Indonesia’s GoTo Set to Raise up to US$1.1 Billion With IPO
Indonesia’s GoTo Group announced its plan to carry out an initial public offering (IPO) on the Indonesia Stock Exchange (IDX). The IPO is expected to raise proceeds of at least IDR 15.2 trillion (US$1.1 billion) plus an additional IDR 2.3
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FinAccel Scraps SPAC Merger Deal With Victoria Park
FinAccel, the parent company of Indonesian Buy Now, Pay Later (BNPL) platform Kredivo, has scrapped its plans to merge with VPC Impact Acquisition Holdings II (VPCB), a publicly traded special purpose acquisition company sponsored by Victory Park Capital (VPC). Unfavorable
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7 Early-Stage Fintech Startups from Indonesia to Follow in 2022
In Southeast Asia, Indonesia is fast becoming a fintech powerhouse as investors continue to pour money into young, innovative startups seeking to tap into the country’s massive population of underbanked. In the first nine months of 2021, Indonesian fintech companies
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AirAsia Rolls Out Financial Marketplace “Airasia Money” in Indonesia
AirAsia announced that it has rolled out a marketplace for financial products called ” airasia money” in Indonesia. Integrated within the AirAsia superapp, airasia money is a marketplace for financial products that offers a wide range of affordable financial offerings
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