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Bezos-Backed Ula Closes Operations, Returns Partial Capital to Investors
Ula, the Indonesian warung-tech startup, has announced its decision to wind down operations and return approximately 30% of the total capital raised to its investors. The company’s co-founder and CEO,...
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East Ventures and SV Investment Partner for New Southeast Asia-Korea Fund
East Ventures, an Indonesian venture capital firm, and South Korea’s SV Investment have announced the first closing of their joint fund. The “East Ventures South Korea fund in partnership with SV...
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GoTyme Indonesia Offers Flexible Financing for MSMEs with Danabijak, Olsera
GoTyme Indonesia has partnered with Danabijak and Olsera to introduce a Merchant Cash Advance (MCA) program, aimed at providing quick and flexible financing to MSMEs. This is said to be the first such...
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GXS Group Taps Thoughtworks to Bolster Tech Infrastructure for Its 3 Digital...
GXS Group has partnered with technology consultancy Thoughtworks to support the launch of its digital banking platforms in Singapore and Malaysia. The group operates as GXS Bank in Singapore and GXBank...
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VinFast and Bank Negara Indonesia Partner to Accelerate EV Adoption in Indonesia
VinFast, a Vietnamese EV manufacturer and a subsidiary of Vingroup, has signed a MoU with Bank Negara Indonesia (BNI) during the Vietnam-Indonesia High-Level Business Dialogue. The MoU aims to develop...
View ArticleDBS Reportedly in Lead to Acquire Controlling Stake in Indonesia’s Panin Bank
DBS Group has emerged as the leading contender to acquire a controlling stake in Indonesia’s Panin Bank, according to people familiar with the matter, as the Singaporean bank progresses through the...
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Aspire Reportedly Scaling Back Indonesia Operations
Singapore-based fintech Aspire is reportedly scaling back its Indonesia operations as it pivots toward global expansion, particularly in the US. The move has led to layoffs affecting up to 20 staff in...
View ArticleGrab Said to Be in Advanced Talks to Acquire GoTo, Deal May Materialise in Q2
Grab is in advanced talks to acquire Indonesian tech company GoTo in the second quarter of this year, according to two sources familiar with the matter, as reported by Reuters. The Singapore-based firm...
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OCBC to Merge Securities Operations with Global Markets by July 2025
OCBC will integrate its securities businesses in Singapore, Hong Kong and Indonesia into its Global Markets division effective 1 July 2025. This move comes as OCBC looks to sharpen its focus on a...
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Oradian Expands Footprint to Indonesia, Joins National Fintech Association
Core banking software provider Oradian has entered the Indonesian market and joined the Indonesian Fintech Association (AFTECH) as its first international member. The move marks a strategic step in the...
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