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Indonesia Fintech Report and Map 2020
Indonesia has the world’s 16th largest economy and is the world’s fourth most populous country with 274 million people, out of these 84% below the age of 54. With Internet penetration standing at 67%...
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Abu Dhabi Fund Leads GoTo Group’s Pre-IPO Fundraise With US$400 Million
Indonesia’s GoTo Group announced that a subsidiary of the Abu Dhabi Investment Authority (ADIA), a sovereign wealth fund owned by the Emirate of Abu Dhabi, will lead its pre-IPO fundraising with a...
View ArticleBank Rakyat Indonesia Leverages Open Banking to Bolster BRImo App
As one of Indonesia’s oldest and largest bank, Bank Rakyat Indonesia (BRI) is always a step ahead in adapting and applying the latest technologies to create various digital platforms and applications...
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Indonesian SME Lender Investree Secures US$10.5 Million in Debt Financing
Investree, an Indonesian B2B marketplace lending platform for Micro, Small and Medium Enterprises (MSMEs), announced that it has secured US$ 10.5 million in debt financing. The financing came from...
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Bezos-Backed E-Commerce Firm Ula Bags US$23.1 Million in Series B Extension
Indonesian B2B e-commerce marketplace Ula announced that it has secured an additional US$23.1 million funding in an extension of its Series B funding round from American investment firm Tiger Global....
View ArticleIndonesian E-Wallet OVO Launches Its First Fixed Income Product
Indonesian digital wallet OVO, has collaborated with financial marketplace Bareksa and Bahana TCW Investment Management to launch its first fixed income product. The Bahana MES Syariah Fund Kelas O is...
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Lending Fintech GajiGesa Closes US$ 6.6 Million Pre-series A Fundraise
GajiGesa, an Indonesian employee management and wellness platform offering Earned Wage Access (EWA) and other financial services, has closed an oversubscribed US$ 6.6 million (IDR 94.5 billion) in...
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UOB Indonesia Launches E-Commerce BNPL Service “TMRW Pay”
UOB’s mobile-only banking solution TMRW announced the launch of TMRW Pay, an e-commerce loan that enables consumers in Indonesia to manage their budgeting needs. TMRW Pay offers consumers deferred...
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Binance and Telkom Indonesia’s MDI to Develop a Local Digital Asset Exchange
Crypto exchange platform Binance has established a joint venture with a consortium led by MDI Ventures to develop a new Indonesian-based digital asset exchange. MDI is a US$830+ million multi-stage...
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Indonesia’s SME-Focused Neobank KoinWorks Raises US$108 Million Series C
KoinWorks, an Indonesian neobank focused on small and medium-sized enterprises (SMEs), has secures US$108 million in a Series C funding round which consists of US$43 million in equity and US$65 million...
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Indonesian Investment App Pluang Bags Additional US$55 Million
Pluang, an Indonesian all-in-one fractional investing app, announced that it has raised US$55 million in a funding round led by venture capital firm Accel. This is a follow-on round to its previously...
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Building Indonesia’s Economic Foundation Through Digitising MSMEs
Indonesia has more than 65 million Micro, Small, and Medium Enterprises (MSMEs). This huge number of enterprises has made the MSME sector one of the most important pillars of the Indonesian economy....
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Bank Indonesia and MAS Deepen Ties to Promote Payments Innovation
Bank Indonesia (BI) and the Monetary Authority of Singapore (MAS) has signed a Memorandum of Understanding (MOU) to strengthen bilateral cooperation and deepen ties. The MOU reflects Indonesia and...
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Bank Indonesia Launches Its First Real-Time Payments Infrastructure With ACI...
Bank Indonesia (BI), the country’s central bank, has launched its first real-time payments infrastructure BI-FAST that is driven by ACI Worldwide, a global provider of real-time payments and digital...
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Indonesia’s OJK Bans Financial Institutions From Facilitating Crypto Trading
The Financial Services Authority of Indonesia (OJK) has strictly prohibited financial institutions from marketing or facilitating the trading of crypto assets. The regulator warned that the value of...
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ForgeRock Expands Cloud Services to Indonesia and Hong Kong
ForgeRock, an identity and access management software company, announced its continued expansion across Asia and has made ForgeRock Identity Cloud available locally from two new data centers in...
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Indonesian Open API Platform Ayoconnect Raises US$15 Million Series B
Indonesian open finance platform Ayoconnect announced that it has closed a US$15 million series B financing round led by Tiger Global. The round was joined by PayU, the payments and fintech business of...
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Indonesian Lenders Ride the Digital Banking Momentum
Indonesia’s banking industry is on the verge of a revolution as a new breed of digital banks looks to capitalize on the country’s large population of unbanked and underbanked, and use the digital...
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Indonesian Insurtech PasarPolis Names Former Amazon Exec as CTO
Indonesian insurtech firm PasarPolis announced the appointment of Rajesh Kumar as its Chief Technology Officer (CTO). PasarPolis said that Rajesh’s extensive experience with nearly two decades in the...
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Akulaku-Backed Bank Neo Commerce Witnessed Strong Growth in 2021
Bank Neo Commerce (BNC), an Indonesian digital bank that is a subsidiary local Buy Now, Pay Later (BNPL) player Akulaku, has witnessed strong growth last year. Previously known as Bank Yudha Bhakti,...
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