Four Southeast Asian Stock Exchanges Agree to Build Joint ESG Ecosystem
Four major Southeast Asian stock exchanges – Bursa Malaysia, Indonesia Stock Exchange (IDX), the Stock Exchange of Thailand (SET), and Singapore Exchange (SGX Group) – have united to form the ASEAN...
View ArticleAlchemy Pay Now Supports AlipayHK, DANA, QRIS, and GCash for NFT Purchases
Alchemy Pay, a Singapore-based provider of fiat-crypto payment solutions, has expanded its services in Hong Kong and Southeast Asia through the integration of popular regional payment platforms into...
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Top Funded Fintech Startups in Indonesia in Early 2024
Who are the top funded fintech startups in Indonesia as of early 2024? With a rapidly growing economy and a tech-savvy population, Indonesia has become a hotbed for fintech innovation and startups,...
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Helicap and Bank Danamon Join Forces to Support Fintech Growth in Indonesia
Fintech investment platform Helicap and Bank Danamon have partnered to to support the fintech industry in Indonesia. Both entities aim to provide comprehensive growth capital solutions to fintech and...
View ArticleOJK Conducts In-Depth Probe on Investree Following CEO’s Misconduct Allegations
The Indonesian Financial Services Authority (OJK) is closely monitoring Investree, a fintech peer-to-peer lending platform, following public reports of potential operational and consumer protection...
View ArticleSea Group in Talks to Acquire Minority Stake in Indonesian Bank HiBank
Singaporean tech conglomerate Sea Group is reportedly poised to acquire a minority stake in HiBank, a subsidiary of PT Bank Negara Indonesia Tbk (BNI). Royke Tumilaar, BNI’s president director had...
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Former Grab Exec Mehrotra Leads JULO to Profitability, Eyes IPO Plans
JULO, an Indonesian fintech offering digital peer-to-peer lending, has announced it reached an annual recurring revenue surpassing US$120 million in 2023. The company also reported a 50% increase in...
View ArticleFairbanc to Enhance Indonesian Operations with US$13.3M Debt Financing
B2B embedded finance startup Fairbanc has secured US$13.3 million in debt financing from digital lending arm of Pegadaian, a subsidiary of Bank Rakyat Indonesia. According to DealStreetAsia, Fairbanc...
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wagely Raises US$23M to Boost Earned Wage Access in Indonesia and Bangladesh
wagely, an Indonesian earned wage access (EWA) firm, has raised US$23 million in a funding round comprising both equity and debt financing. The round was led by Capria Ventures with contributions from...
View ArticleOJK Lifts Ban on Akulaku’s BNPL Service in Indonesia
Indonesia’s Financial Services Authority (OJK) has lifted restrictions on the buy now, pay later (BNPL) service offered by fintech firm Akulaku, according to a statement from the company to Tech in...
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Wise to Discontinue E-Wallet Holdings in Indonesia Amid Licensing Challenges
Online money transfer service Wise announced that its users in Indonesia will no longer be able to store funds within the app’s e-wallet, effective 23 May 2024. The Daily Social reported that this...
View ArticleBukalapak Pulls Plug on In-House BNPL Offering
Indonesian e-commerce leader Bukalapak has phased out its buy now, pay later (BNPL) service, BukaCicilan, as of 29 February 2024. This decision reflects the broader challenges facing the BNPL sector,...
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Aspire Offers Access to Google Workspace Tools for Singapore and Indonesia SMEs
Singapore-based B2B fintech firm Aspire has announced a collaboration with Google Cloud aimed at supporting startups and small and medium-sized enterprises (SMEs) in their growth efforts. This...
View ArticleOJK Greenlights Sunday’s Acquisition of KSK Insurance Indonesia
Thailand-based insurtech startup Sunday has successfully acquired a 99% stake in PT KSK Insurance Indonesia, a general insurer, according to DealStreetAsia. This strategic acquisition has been greenlit...
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Indonesia’s Booming Digital Payments Drive Demand for Robust Mobile App Security
In the dynamic landscape of Indonesia’s digital revolution, the exponential growth of digital payments has generated an increased demand for robust mobile app security solutions. As financial...
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AwanTunai Exceeds Series B Target, Raises US$27.5M Led by Norfund, MUIP
Indonesian fintech startup AwanTunai has successfully closed its Series B funding round, amassing US$27.5 million. The Jakarta-based company, known for its point-of-sale financing solutions aimed at...
View ArticleIndonesia’s Ajaib Kripto Witnesses Tenfold Surge in Bitcoin Trading Volume
Ajaib Kripto, the crypto trading application developed by Indonesian investment technology unicorn Ajaib, has announced a significant surge in its Bitcoin trading volume, marking a tenfold increase...
View ArticleIndonesian P2P Lender Modal Rakyat Being Sued Over Loan Default Allegations
Indonesian peer-to-peer lending platform Modal Rakyat is facing a lawsuit filed in the South Jakarta district court on 20 February. According to a DealStreetAsia report, the P2P lender has been accused...
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Indonesian Fintech JULO Offers Loans up to US$3,000 for Medical Expenses
Indonesian fintech company JULO has rolled out a new healthcare financing service, allowing its 2 million users to cover their medical expenses across the country. The service, dubbed JULO Health,...
View ArticleGoTo and TikTok Set to Launch BNPL Offering
Indonesian technology conglomerate GoTo Group is preparing to launch a “buy now, pay later” (BNPL) service in partnership with TikTok, according to Tech in Asia. This development follows GoTo...
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