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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.
HappyFresh , the on-demand grocery app based in Indonesia, announced today it has raised a $65 million Series D. with participation from STIC, LB and Mirae Asset Indonesia and Singapore. It expanded into five markets before shutting down its operations in Taiwan and the Philippines in 2016.
Ajaib Group , an online investment platform that says it now runs the fifth-largest stock brokerage in Indonesia by number of trades, announced it has raised a $25 million Series A led by Horizons Ventures, the venture capital firm founded by Li Ka-Shing, and Alpha JWC.
Kredivo Holdings , which offers credit services to underbanked consumers in Indonesia and Vietnam, has raised $270 million in what it says was an oversubscribed Series D. He added that Kredivo now drives 3% to 4% of total GMV for its top e-commerce merchants in Indonesia, compared to 15% to 20% from credit cards.
The funding will be used on hiring, enhancing Evermos’ recommendation engine and other AI-based tech, and entering new regions in Indonesia. Its goal is to reach more than one million resellers throughout Indonesia over the next five years. For example, it has to be halal, if it’s fashion it has be modest fashion.”.
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.
Surjaudaja told TechCrunch that IDEAL was started “with the thinking that consumer lending in Indonesia is broken.”. With that in mind, Indonesia has one of the lowest credit to GDP ratios in the region, signifying that there is a lot of economic value potential that can be unlocked. “We
The company, which was founded in 2013, also plans to strengthen its global operations across six countries — Thailand, Indonesia, Vietnam, Myanmar, Cambodia, and the Philippines. About 70% came from Thailand while 30% came from the international market, the co-President Thamavaranukupt said.
BukuKas was founded by chief executive officer Krishnan Menon and chief operating officer Lorenzo Peracchione, who met eight years ago while working at Lazada Indonesia. Every two months, he would visit smaller small cities in Indonesia, like Jepara and Cirebon, to source furniture.
Working in this way, retailers often give up too much margin, on average 20% to 30%, including markups, which makes offline options prohibitive to everyone but the largest brands. Latin America’s slowing VC market hides local strength. And by relying on cash, brands spend much of their time chasing retailers for payments. “In
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. But many of them don’t have the social media clout to attract advertisers.
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 Indonesia-based financial platform for SMEs announced today it has raised $108 million in Series C funding led by MDI Ventures. As many as 20% of businesses shifted their sales channels offline to online during the pandemic, and 89% of businesses now use online channels to sell their products and services,” he said.
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.
It is currently used by over 10,000 merchants in Singapore and Malaysia, with plans to expand into more Southeast Asian markets, including Thailand, Indonesia and the Philippines. HitPay’s no-code platform allows SMEs to unify their online and offline payment stacks. The Y Combinator alum announced today that it has raised $15.75
BukuKas was founded by Menon and chief operating officer Lorenzo Peracchione, who met while working at Lazada Indonesia. of Indonesia’s gross domestic product. According to Bank Indonesia, the country’s central bank, there are about 60 million SMEs , though Menon says that number may range from 55 million to 65 million.
It operates in the United States, South Korea, Singapore, the Philippines and Indonesia. The company launched in 2018 along with Gushcloud International, an influencer marketing firm. It also provides data points like pricing and demographics to create new brands and market them.
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. The new capital will be used for product launches, marketing and hiring. Market research platform Milieu Insight raises $2.4
The COVID-19 pandemic reshaped the education industry, heating up the global edtech startups that made online education more accessible for a wider population, for example in countries like India and Indonesia, Aziz mentioned.
“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
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.
In Indonesia, arisans are traditionally rotating savings and credit associations (RSCA) that let groups of people, primarily women, save and borrow money together. Mapan is currently available in Java, Bali, Sumatera, Nusa Tenggara and Sulawesi, with plans to expand into the rest of Indonesia. and a McKinsey consultant.
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
That has in turn led to a surge in the usage of tools to help home learners do their work better, and today, one of them is announcing a growth round that speaks to the opportunity in that market. It currently has some 30 million users in that market, and it happens to be the only one in which Brainly is monetising users. In the U.S.
The duo looked at several startups in Indonesia and India and found the Asian markets were seeing similar consumer internet trends play out — just at a different pace. They built a thesis that Pakistan will see similar adoption of consumer internet services in the next four to five years.
Kredivo will use the debt facility to help achieve its goal of serving 10 million customers in Indonesia. Credit is one of the largest and most complex areas of the financial services ecosystem and the fact is that Indonesia is deeply underserved on that equation,” he said. a month, or a maximum annual rate of 53.36%.
“The way the software is structured has to be very customized to the individual markets,” Wong said. Upmesh will use part of its new funding to double down on the Philippines and Malaysia for at least another six months, but it also wants to enter Indonesia, Thailand and Vietnam. If we look at an interesting comparison to the U.S.,
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. Yanolja announced today that Yanolja Cloud recorded 170% growth in revenues in the overseas market, including the U.S.,
The new capital will be used for hiring, increasing Juragan Materials’ market share and technological enhancements. He also dealt with deliveries that could not be tracked and arrived late and offline payment and invoicing processes that were long and frustrating.
I tried to understand what edtech was and why it was working in those markets and why it didn’t exist in Bangladesh,” said Chowdhury. Indian edtech giant Byju’s to expand to international markets. When I looked at that closely, there was no reason for it not to exist in Bangladesh. The 2021 edtech avalanche has just begun.
About a decade ago, Donghwan Kim helped his cousin, a ceramist, look for sales channels, like flea markets, to sell his ceramics. The market size of Asia’s handmade products is projected to reach $307.8 Other countries like Japan and the U.S. are on its radar for the following destinations, according to Kim.
We can use the funding to crystallize our vision into simple hardware that delivers the best possible experience for the mass market. Eventually, what attracted investors was having a product that users love, which basically demonstrates market fit. Once we release the product, it is loved by users.
With Southeast Asia’s joint fund, Kejora-Intervest Growth Fund also joined in the round, it is a sign that H2O Hospitality will be focusing specifically on the Southeast Asian Market. They include its automated dynamic pricing (ADR) tool and diverse sales channels like online and offline travel agencies in domestic and overseas, he said.
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