Investree Appoints Caretaker Team Amid Bad Loans, Legal Disputes
The beleaguered P2P lender Investree has established a caretaker team to manage its daily operations under the guidance of Indonesia’s Financial Services Authority (OJK). According to DealStreetAsia,...
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Validus Raises US$50M Debt Funding from HSBC to Boost Indonesian SME Lending
Singapore-based digital SME lending platform Validus has secured a debt funding of up to US$50 million debt funding from HSBC, provided under the bank’s ASEAN Growth Fund strategy. The funds will be...
View ArticleGoTo Winds Down Vietnam Operations Amid Intense Ride-Hailing Competition
Indonesian ride-hailing provider GoTo Group is pulling out of Vietnam, abandoning a market where it faced fierce competition, as it sharpens its focus on reaching profitability in its core operations...
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Indonesia’s Krom Bank Taps AWS Cloud Expand Its Digital Banking Services
Krom Bank, a youth-focused Indonesian digital bank that is a part of Kredivo Group, is utilising Amazon Web Services (AWS) to enhance its digital banking services in Indonesia. With 74% of the...
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Indonesian Regulator Grants Binance-Backed Tokocrypto Trading License
Tokocrypto, a subsidiary of Binance, has obtained a Physical Crypto Asset Trader (PFAK) license from Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti). The PFAK license allows...
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Finture Secures US$30M in Series B Funding to Expand YUP Credit Platform
Fintech startup Finture, which operates the credit payment platform YUP, has secured US$30 million in its Series B funding round. The funding was led by Hong Kong’s MindWorks Capital, with...
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GoTo Taps Tencent to Step up Its Cloud Infrastructure, Digital Services
Indonesia’s GoTo Group has partnered with Chinese multinational tech conglomerate Tencent to enhance its cloud infrastructure and digital services. Under the five-year agreement, Tencent Cloud will...
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GoPay Introduces AI Voice Assistant ‘Dira’ Powered by Google Cloud
Indonesia’s GoTo Group has unveiled Dira, an AI-powered voice assistant integrated into the GoPay app. Dira understands and responds to commands in Bahasa Indonesia, leveraging Google Cloud’s...
View ArticleIndonesian Crowdfunding Platform Kitabisa Enters Insurance Sector
Kitabisa, an Indonesian donation and crowdfunding platform, has officially entered the insurance market with the launch of Kitabisa Insurance. According to DealStreetAsia, this new sharia-compliant...
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PasarPolis and Gojek Partner to Expand Insurance Access in Indonesia
Indonesian insurtech company PasarPolis has expanded its strategic partnership with superapp Gojek, aiming to make insurance more accessible to millions of Indonesians. This collaboration leverages...
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Insurtech Firm Qoala Cuts Losses by 36% as Revenue More Than Doubles in 2023
Southeast Asian insurtech platform Qoala reported a 36% reduction in net losses for 2023, according to its latest regulatory filings accessed by DealStreetAsia. The Indonesia-based company recorded a...
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OCBC First in Southeast Asia to Launch Disney-Branded Banking Experience
OCBC has announced a five-year collaboration with Disney, bringing special products and activities inspired by Disney, Pixar, Marvel, and Star Wars to its retail banking customers in Singapore,...
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Batumbu Names Reza Perazi as President Director, Adds 2 New Board Members
Batumbu, an Indonesian fintech lending company and part of Validus Investment Holding, has appointed a new Board of Directors. Reza Perazi Armadi has been appointed as the new President Director,...
View ArticleOJK Revokes Investree License, Pursues Legal Action Against Former CEO Gunadi
Indonesia’s Financial Services Authority (OJK) has revoked the business license of PT Investree Radhika Jaya (Investree), a peer-to-peer lending platform. The decision was made due to Investree’s...
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Igloo Offers Direct Insurance Purchases in Indonesia
Regional insurtech Igloo has launched a new direct-to-consumer platform, igloo.co.id, in Indonesia. The igloo.co.id provides information on coverage and policies, enabling consumers to purchase...
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Finfra Raises US$2.5M, Partners with Tyme for Embedded Lending in Indonesia
Finfra, an Indonesian lending-as-a-service infrastructure provider, has raised US$2.5 million in a funding round led by Cento Ventures. The fundraise was also joined by Accion Venture Lab, Z Venture...
View ArticleThought Machine Powers BCA Syariah’s Digital Transformation
BCA Syariah, the Islamic banking arm of Bank Central Asia (BCA), has partnered with Thought Machine to modernise its services in Indonesia. Using Thought Machine’s cloud-based platform, Vault Core, BCA...
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GoTo, Tencent, Alibaba Invests in Indonesia’s Cloud Infrastructure and...
Indonesia’s GoTo Group has joined forces with Tencent Cloud and Alibaba Cloud in an agreement aimed at accelerating Indonesia’s digital transformation. The agreement, witnessed by Indonesian President...
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GXS Bank to Launch Business Banking Offerings in Early 2025
GXS Group is set to launch its business banking services in early 2025, starting with Singapore, as part of its efforts to expand offerings and serve underserved segments across Southeast Asia. The...
View ArticleKoinWorks’ Subsidiary Faces OJK Scrutiny Over Lender Payment Delays
Indonesia’s Financial Services Authority (OJK) has increased its supervision of PT Lunaria Annua Teknologi following reports of payment delays to some lenders. The company is a subsidiary of...
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