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One example is Fairbanc , which is based in Singapore but focused on Indonesia. Fairbanc also received previous investment from East Ventures, 500 Global and Michael Smapoerna. Fairbanc will use its new funding on expanding in Indonesia, and exploring new markets like Vietnam and the Philippines in partnership with Unilever.
Indonesia-based insurtech startup Fuse announced today it has secured $25 million of Series B extension round as it plans to enter more countries including Thailand and Vietnam in Southeast Asia. The pandemic accelerated the digital transformation in the insurance industry, one of the most conservative sectors.
Jakarta-based Xendit , best known for its digital payment infrastructure but also focused on other financial products, announced today it has raised $150 million in Series C funding, bumping its valuation to $1 billion. There’s a new entrant in Southeast Asia’s growing list of unicorns. One big segment are SMEs.
While Indonesia isn’t the most crypto active in the region — total crypto value received was less than half of Thailand’s from July 2021 to June 2022, according to Chainalysis — the country is thought to hold huge potential for web3 adoption, thanks to a young and sizable (270 million) population as well as a vibrant Web 2.0
If you follow startup news from Indonesia, you know that the country’s estimated 60 million small businesses are a hot target for tech companies. BukuKas and BukuWarung , for example, both recently raised large rounds to fuel their race to digitize SMEs’ operations. Staff management platform Vara’s team.
This was the year that global investors not only started to pay close attention to the region’s tech ecosystems, but also began putting real money into them. As a global financial center, one could argue that Singapore’s startup ecosystem is in a category of its own when compared to its neighbors. million people.
H2O Hospitality will expand its business further by adding various types of accommodations in South Korea and Japan in 2021 and 2022 and plans to enter Singapore and Indonesia in 4Q in 2022 in line with its Southeast Asia penetration strategy, according to H2O Hospitality co-founder and CEO John Lee. There are currently about 16.4
But in markets like Indonesia, many still use digital wallets or e-commerce platforms, creating alternative sources of user data that can help them secure working capital and other financial tools. It definitely doesn’t need to be a bank account, it could be in a digital wallet, e-commerce platform or other service providers.”
We proudly welcome NGO partners Vietnet-ICT and the Lin Centre in Vietnam, as well as ASEAN Foundation , Kopernik Marketplace , and YCAB Foundation in Indonesia to the TechSoup Global family. VietNet-ICT’s vision is to narrow the digital divide by providing ICT access to poor people in Vietnam.
Fazz , the Southeast Asian digital financial services group created by the merger of PayFazz and Xfers , announced today that it has raised a total of $100 million in Series C funding. This includes $75 million in equity and a $25 million debt facility. The company says that it saw $10 billion in annualized transaction volumes last year.
This brings its total raised to $43 million, including the oversubscribed first tranche of its Series B, which was led by Tiger Global and closed in January 2022. It works with regulators and incumbent banks, and was recently awarded a Bank of Indonesia (BI) Payment Service Provider Category 1 license.
Fueled by the COVID-19 pandemic, digital transformation is happening all over the world. Indonesia’s Xendit , a startup focused on building digital payments infrastructure for the region, has just raised $64.6 It aims for fast and easy integrations so that businesses can more easily accept payments digitally.
We digitize new brand discovery, automate the negotiation and client management process, and streamline logistics and shipping by pooling orders,” Cho said. Lai said that another key specialization is its competitive shipping rates and steeper discounts that allow global brands to trial or test their products in a completely new market. .
Flip , an Indonesia-based fintech startup, announced today it has raised $48 million in a Series B to accelerate its growth. Flip is Insight Partners’ first investment in Indonesia. . Arriyan, Luqman Sungkar and Ginanjar Ibnu Solikhin co-founded the company in 2015 while studying at University of Indonesia.
Dable (the name is a combination of “data” and “able”) currently serves more than 2,500 media outlets in South Korea, Japan, Taiwan, Indonesia, Vietnam and Malaysia. It has subsidiaries in Taiwan, which accounts for 70% of its overseas sales, and Indonesia. How will digital media survive the ad crash?
Indonesia emerged as the best choice. Indonesia and Malaysia, in the heart of Southeast Asia, are among the countries with the largest Muslim populations in the world. Gojek’s GoPay is also partnered with the Indonesia mosque council to allow users to make zakat, or obligatory alms giving, online. out of its 33.6 out of its 33.6
While the rate of retail investment in Indonesia is still low, its growing quickly because of a confluence of factors , including people’s desire to diversify and increase their assets during the pandemic. Crypto came in third after mutual funds and digital gold, and before stocks at number four.
BukuKas , a startup focused on digitizingIndonesia’s small businesses, has raised $50 million in Series B funding. BukuKas was founded by Menon and chief operating officer Lorenzo Peracchione, who met while working at Lazada Indonesia. of Indonesia’s gross domestic product. The app has onboarded about 6.3
In addition, Toni works on several digital-economy-related initiatives that support the scaling of digital businesses, stimulate startup ecosystems and accelerate the digital transformation of key industries in Africa, Asia, the Caribbean and the Middle East. Jamil Wyne. Contributor.
AC Ventures (ACV) , a venture firm focused on early-stage startups in Indonesia and the rest of Southeast Asia, has reached the first close of its fifth investment fund (Fund V). Founded in 2014, ACV’s portfolio now has over 120 investments in Indonesia and the rest of Southeast Asia.
billion new endpoints to Visa Direct ’s digital payments network. This enables many more consumers and small businesses to send funds to markets in Africa, Asia and Latin America, where digital wallets are often the default payment method. Three billion people globally are still left out or poorly served by the formal economy.
Brick currently operates primarily in Indonesia, but is planning to expand into Singapore and the Philippines before eventually covering all markets in Southeast Asia. Inside Plaid’s plans to build a new, global finance network. The funding fill be used to double down on Brick’s presence in Indonesia and regional expansion.
Ascend Money will use the proceeds to grow its e-wallet application – TrueMoney Wallet – and expand its digital financial services ranging from digital lending and digital investment to cross border remittances in Southeast Asia. Apart from e-wallet, we are an agent-based payment and remittance service provider.
All of Tinvio’s existing investors—Sequoia Capital India’s Surge, Global Founders Capital and Partech Ventures—also returned for its Series A, which brings Tinvio’s total raised to $18.5 It recently entered financial services by adding a digital payments collection and reconciliation features. million seed round in April 2020.
In Indonesia, arisans are traditionally rotating savings and credit associations (RSCA) that let groups of people, primarily women, save and borrow money together. Mapan digitized that concept, and turned it into a service where users, also mostly women, can use it to pay for goods and services.
The pre-seed round, which was completed in just three weeks via virtual meetings, was led by Indus Valley Capital, with participation from Alter Global, Fatima Gobi Ventures and several angel investors from Pakistan, the Middle East and Europe. Maqsad announced today its $2.1
“With this acquisition, we will not only be able to further digitally serve the financing need of these SMEs to grow but also offer them business accounts, spend management solutions, and payment services to manage their business,” Goel told TechCrunch. . In January, the company crossed a significant milestone of over $1 billion (SG$1.6
As part of the deal, Payfazz, an agent-based financial services network in Indonesia, invested $30 million into payments infrastructure provider Xfers. In Indonesia, Payfazz has built a network of 250,000 financial agents to reach people in rural areas where many banks don’t operate branches.
Glints’ platform currently has three million professionals in five markets (Indonesia, Vietnam, Singapore, Malaysia and Taiwan), and 50,000 companies that are seeking workers, including AIA, IKEA, GetGo, KKday and Gameloft. year-over-year, continuing its trend of annual revenue growing at a triple-digit percentage.
The same kind of experience a customer has today on a marketplace like Lazada—the convenience, all digital, fast delivery—we saw was lacking in insurance, which is still operating with offline, face-to-face agents like 20 to 30 years ago,” he said. to grow its insurance platform in Indonesia. Qoala raises $13.5M
Bfree , a Nigerian credit management fintech, has embarked on global expansion after raising $1.7 million in a pre-Series A round, to tap the opportunities in emerging markets, where digital lending apps have recently sprung up in droves. million, having realized $800,000 in a seed round last May. Image Credits: Bfree.
SourceWiz has built a platform to digitize the way exporters operate. As exporters compete on the global stage, they are craving for tools that will digitize their workflows and help them trade faster and better. This is where SourceWiz comes in. India’s market is also largely untapped.
Founded in 2019, the startup is operational in Vietnam and has applied for a license to launch in Indonesia. Before launching Jeff, Niparts was CEO of Spain for Digital Finance International, a fintech company that is part of the Finstar Financial Group. It also plans to enter the Philippines in the third quarter.
A Seoul-based proptech startup called Rsquare built a data-driven platform to digitize the process, enabling tenants to compare multiple properties and find an office. Rsquare, which opened an office in Vietnam in June, is set to enter Singapore this month and Indonesia in 2022, Lee added.
to send money to the region, much higher than the global average of 6.8%. Therefore , digitizing has been mostly around delivery rather than building new infrastructure and payment processing models for African individuals and businesses to make cross-border payments. . African startups join global funding boom as fintech shines.
A Manila-headquartered startup called CloudEats , which operates cloud kitchens across the Philippines and Vietnam, just raised a $7 million Series A extension led by Nordstar to accelerate the digitization of food service in Southeast Asia. . Image Credits: CloudEats. CloudEats says it has served more than 2.5 million orders.
Igloo currently works with 20 global, regional and local insurers across Southeast Asia. Mehta said that the penetration rate of insurance in much of Southeast Asia is low, less than $100 USD per capita across Indonesia, Vietnam and the Philippines.
Earned wage access is gaining significant investor interest across different emerging markets such as India, Nigeria and Indonesia, where startups are helping employees — white and blue-collar — access their salaries in real time. Similar providers in Egypt include Telda and Sympl. “We
It operates in the United States, South Korea, Singapore, the Philippines and Indonesia. Summer International brands are sold through a mix of digital and offline channels, including e-commerce platforms, social and live commerce platforms and big box stores.
Simon Black, PPRO’s CEO, said in an interview that two particular areas of focus in the coming year will be more activity in Asian countries like Singapore and Indonesia, as well as Latin America, where the company acquired a local player, allpago , back in 2019. “PPRO is building solutions for performance in industrial strength.
A senior executive at Chinas Ant Group expected digitalization driven by innovative technologies to become a key factor during the post-pandemic recovery, especially the prosperity of SMEs, while also reducing financial exclusion and enhancing data security. However, technologies and support systems behind payment methods are not coordinated.
Qapita currently serves clients in Indonesia, Singapore and India, focusing on startups. Its software platform helps private companies digitize and manage cap tables, perform due diligence and issue equity to employees. East Ventures co-founder and managing partner Willson Cuaca will join Qapita’s board.
Data Digest is a weekly round-up of the latest news on data-related projects in the nonprofit sector, compiled and authored by Keisha Taylor of GuideStar International and TechSoup Global. They are building a network of Pulse Labs to this end, the first of which operates in Jakarta Indonesia. It was originally published on NetSquared.
Its features include digital checklists, inventory management and field audits that can be accessed through a mobile app. Founded in 2018 by Daniel Hazman and Jonathan Keith, Nimbly is currently used by more than one hundred organizations in seven countries, including Indonesia, Singapore, Malaysia and the United States.
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