Payments News

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Deals

Indonesian E-commerce Firm Bukalapak Raises $234 Million

“Indonesian e-commerce company Bukalapak raised $234 million in capital in a funding round led by Microsoft, Singapore sovereign wealth fund GIC, and local media conglomerate Emtek, according to a sale document reviewed by Reuters. The latest funding round comes amid a frenzy of interest from global investors in gaining exposure to the fast growing Southeast […]
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Global

How Can Open Finance Help Indonesia’s Unbanked?

“One hundred and thirty million: that is the number of adults within Indonesia who do not use traditional bank accounts to access financial services such as loans and credit cards. Instead, they utilize fintech services ranging from digital wallets to peer-to-peer (P2P) lending to fulfill their financial needs. Now, Bank Indonesia (BI) and the financial […]
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Deals

Grab leads series B round of up to $100m in Indonesian fintech LinkAja

“Indonesia’s fintech app LinkAja announced that it has raised up to US$100 million in a series B round led by Southeast Asian super app Grab…Commencing its commercial operations in June last year, LinkAja provides e-payment services to the middle-class segment and to micro, small, and medium enterprises (MSMEs) in Indonesia.”
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Global

Digital Banking, Now Halal

“The average fintech startup founder faces a taxing to-do list: raise seed funding, scope out a user base, recruit talent, build something people will actually use. For the Indonesian entrepreneur, the Muslim-majority market presents an additional hurdle: build an app that is compliant with Islamic religious law, or Sharia.”
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Deals

Payfazz gets $53 million to give more Indonesians access to financial services

“Indonesia is not only Southeast Asia’s most populated country, but also one of the world’s fastest-growing economies. But many people, especially outside of major cities, still lack access to basic financial services like bank accounts. Payfazz is one of several tech startups focused on solving that problem by finding innovative ways to give more Indonesians […]

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