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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.
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.
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
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
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.
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.
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.
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
TipTip wants to help them build up followers in their communities using an offline/online strategy, and monetize by selling content instead of relying on advertising algorithms. It is currently focused on Indonesia, with a presence in 40 cities. In our case, promoters help creators sell their digital content.”.
Carsome hasn’t confirmed the funding, but it has been making moves to expand its reach, including a strategic investment in PT Universal , an offline car and motorcycle auction company that has retail branches in five Indonesian cities. Automotive marketplace Carro hits unicorn status with $360M Series C led by SoftBank Vision Fund 2.
With COVID-19 prompting many to digitize, startups that focus on SMEs have been raising large rounds of funding to scale up quickly. The Indonesia-based financial platform for SMEs announced today it has raised $108 million in Series C funding led by MDI Ventures. KoinWorks is the latest. There’s still a lot of room for improvement”.
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. and a McKinsey consultant.
Most of its users are in Vietnam, but Edupia is also expanding into other Southeast Asian markets like Indonesia, Thailand and Myanmar, and adding more subjects, including math and coding. Before founding Edupia, Hung spent 10 years as director of digital services at Viettel, the largest telco in Vietnam.
The Indonesian used car market is on a course for growth fueled by a number of trends : the increasing digitization in used car sales; a larger variety of finance options; and the COVID-19 pandemic, which pushed the idea of private car ownership. Co-founder and chief financial officer (CFO) Andreas Sutanto and Laras started Broom in 2021.
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.
With promising initial traction and user feedback, the size of the opportunity to digitize the education sector became very clear,” Aziz said. It plans to build the company as a hybrid center offering online and offline courses like Byju’s and Aakash, and expand classes for adults such as MasterClass, the U.S.-based
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
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.
million USD) and above, and will set up another office in Thailand, with plans to expand into Indonesia as well. The-Wolfpack plans to help them set up a physical studio to create an offline experience, too. The firm is already looking to raise a second fund, with a target of $20 million SGD (about $14.9
Indonesia is one of the fastest-growing consumer markets in the world, but consumer data is still hard to find for many businesses, especially smaller ones. But it’s something that’s not available in developing countries like Indonesia,” where many companies still conduct research offline despite its very high smartphone engagement rates.
This doubles the Indonesian digital lending and credit platform’s total warehouse financing facility from VPC to $200 million. Kredivo will use the debt facility to help achieve its goal of serving 10 million customers in Indonesia. Kredivo raises $30M to build a digital credit card for Southeast Asia.
In July, Yanolja launched a new feature, Yanolja Cloud, a B2B operation solution, to reinforce its digital transformation as demand for contactless service grows by the pandemic. Yanolja Cloud automates online and offline operations and helps hotel operators to generate more revenues by offering personalized service to guests at a lower cost.
Before founding FLIK, Gadi’s previous startups included Pawoon , a point-of-sale platform that enables businesses to accept digital payments. Gadi told TechCrunch that FLIK’s team is experienced in the payments and merchant business, both offline and online. “We FLIK co-founder and CEO Ahmad Gadi.
Each video is supplemented with digital resources called smart notes to replace the guidebooks many students buy for studying, and practice questions with detailed solutions. Shikho’s main video content is pre-recorded, but it will also launch live classes for its app and web portal in about six weeks.
It comprises multiple countries like Indonesia with 600 million people, Thailand, Malaysia, Singapore, and the Philippines, each with very different markets. To do that, you really need to be able to develop digital tools to facilitate this matching process. Everything could be done within an hour.
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