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One example is Fairbanc , which is based in Singapore but focused on Indonesia. Fairbanc will use its new funding on expanding in Indonesia, and exploring new markets like Vietnam and the Philippines in partnership with Unilever. As a result, Fairbanc decided to pilot with Unilever in Indonesia instead.
Legit Group, a cloud kitchen brand operator based in Jakarta, has its eyes on the rest of Indonesia after raising a $13.7 The round was led by MDI Ventures, the venture capital arm of PT Telcom Indonesia Tbk, the largest telecom conglomerate in Indonesia. Other cloud kitchen startups in Indonesia include Yummy and Hangry.
Rey was founded this year by Evan Tanotogono, former head of digital channel at Sequis, one of Indonesia largest insurers, and Bobby Siagian, who held lead engineering roles at companies including Tokopedia and Sea Group. They created Rey to address the low penetration of life and health insurance in Indonesia.
Even the largest landfills in Indonesia are at (or nearing) capacity , and the government has set an ambitious target of 30% waste reduction by 2025. Part of its strategy includes more digital integration for monitoring and recording the process of waste management and automating its material recovery facilities. “We
Logisly , a Jakarta-based startup that describes itself as a “B2B tech-enabled logistics platform,” announced today it has raised $6 million in Series A funding to help streamline logistics in Indonesia. Its platform digitizes the process of ordering, managing and tracking trucks. The round was led by Monk’s Hill Ventures.
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
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.
BukuWarung , an Indonesian startup focused on digitizing the country’s 60 million small businesses, announced today it has raised new funding from Rocketship.vc By digitizing their financial records, companies like BukuWarung can make it easier for them to access lines of credit, working capital loans and other services.
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.
Zipmex , a digital assets exchange headquartered in Singapore, announced today it has raised $6 million in funding led by Jump Capital. The startup, which plans to become a digital assets bank, says the round exceeded its initial target of $4 million. Along with earlier funding, it brings the total Zipmex has raised so far to $10.9
Komunal digitizes rural banks, called BPRs (Bank Perkreditan Rakyat) through its DepositoBPR platform, which lets users make deposits and apply for loans digitally without needing to visit their bank’s physical location. Another opportunity presented itself in the form of Indonesia’s 1,500 BPRs. Komunal raises $8.5M
InstaCarro , a digital marketplace that connects used car sellers to dealers in Brazil, has raised $23 million in a Series B round of funding. Chehaoduo in India and Carro in Indonesia. . We see digital car dealerships finding success in markets across the world, from the U.S. Indonesia and Mexico,” Nordin said.
In Indonesia, many logistics providers still use old-fashioned systems to track their operations and fleets, including pen-and-paper ledgers. Other products include Mobility Software-as-a-Service to digitize vehicles for real-time tracking, solutions for improving business efficiency and an open API ecosystem.
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. They are all part of TechSoup Asia , which serves charities in the Philippines, Malaysia, Singapore, Thailand — and now Vietnam and Indonesia.
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
CrediBook , a startup that helps Indonesian retail wholesalers digitize the financial side of their operations, has raised $1.5 Founded in February 2020, CrediBook is part of a wave of startups focused on digitizing small- to medium-sized businesses in Indonesia. Moka and Jurnal , meanwhile, are used by larger companies.
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.”
BukuWarung , a fintech focused on Indonesia’s micro, small and medium enterprises (MSMEs), announced today it has raised a $60 million Series A. The oversubscribed round was led by Valar Ventures, marking the firm’s first investment in Indonesia, and Goodwater Capital.
It’s the easiest option when I’m trying to be succinct, but Southeast Asia consists of 11 countries, and obviously there are huge differences between, say, Singapore, Myanmar, Laos, Vietnam, the Philippines and Indonesia. A close look at Singapore’s thriving startup ecosystem. million people.
Today, he claims, SwipeRx has transformed and digitized the pharmacy industry and become a one-stop platform for pharmacists to perform all their daily tasks, from education to purchasing to inventory financing in Southeast Asia.
While Waresix’s platform digitizes all parts of the supply and logistics chain, its current focus is on mid-mile logistics services, or transportation from warehouses to distributors. to advance its push to digitize logistics in Indonesia. Waresix hauls in $14.5M It currently serves more than 100 cities.
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.
The rapid growth of e-commerce in Indonesia, especially during the pandemic, is placing increasing demands on its supply chain infrastructure. According to research institution Statistics Indonesia, there are about 5 million small and medium-sized manufacturers in Indonesia. Indonesia’s Kargo comes out of stealth with $7.6M
It works with regulators and incumbent banks, and was recently awarded a Bank of Indonesia (BI) Payment Service Provider Category 1 license. Ayoconnect says it is the only open finance player in Indonesia to be licensed by the central bank. Before starting Ayoconnect, founder and CEO Jakob Rost was a managing director at Lazada.
Many still rely on manual bookkeeping, but the impact of COVID-19 has driven small businesses to digitize more of their operations. BukuKas launched in December 2019 as a digital bookkeeping app, but is growing its range of services with the goal of creating an “end-to-end software stack” for small businesses.
SiCepat , an end-to-end logistics startup in Indonesia, announced today it has raised a $170 million Series B funding round. The logistics industry in Indonesia is highly fragmented , which means higher costs for businesses. Waresix acquires Trukita to connect more of Indonesia’s fragmented logistics chain.
Indonesia-based startup GoTo Group announced today it has secured more than $1.3 billion transactions in 2020, with gross transaction value of over $22 billion, contributing to more than 2% of Indonesia’s GDP. Indonesia has more than $1 trillion in GDP with a population of 270 million. Goto Group claims that it generated over 1.8
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.
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
Many teachers and parents in Indonesia rely on WhatsApp to keep in touch, creating “multiple groups that often become messy and highly ineffective, and result in confusion or lost threads,” says Rizky Aniez, the co-founder and chief executive officer of Gredu. InfraDigital helps Indonesian schools digitize tuition and enrollment.
Before launching IDEAL, Surjaudaja was former head of operations strategy at digital payment service OVO. Surjaudaja told TechCrunch that IDEAL was started “with the thinking that consumer lending in Indonesia is broken.”. IDEAL’s digital platform seeks to solve these challenges.
Unlike other emerging economies such as China, India and Indonesia, which have embraced digitization and technology, Pakistan has trailed the region in the adoption of technology and startup formation. Despite this, investors have dreamed for years of the huge opportunities in unlocking Pakistan’s potential as a digital economy.
Approximately 200 D2C brands have already started using Plugo’s beta service in Indonesia. The Singapore-based startup with offices in Indonesia and South Korea intends to launch its service officially in Indonesia in the first quarter of next year. Bang founded Plugo two months ago with five founding members.
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
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.
GajiGesa , a fintech startup that provides earned wage access (EWA) and other services for workers in Indonesia, has added strategic investors to help it launch new services and expand its user base. GajiGesa is part of a new wave of startups focused on digitizing the 60 million small businesses in Indonesia. million seed round.
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.
We digitize new brand discovery, automate the negotiation and client management process, and streamline logistics and shipping by pooling orders,” Cho said. Last week, Peeba announced its partnership with Hong Kong-based Choco Up to enable the Sell Frist, Pay Later payment option for retailers on Peeba’s platform. . “We
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. One of Thunes’ focuses is emerging markets where there are a lot of unbanked people.
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.
Unlike other social e-commerce apps, including ChiliBeli and Woobiz in Indonesia, that build networks of resellers or agents who market items through their social media profiles and take a cut of sales, KitaBeli’s buyers place orders directly through its app, participating in group deals for lower prices.
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