Demystify Podcast: Demystifying BaaS with Kelvin Tan, Standard Chartered Bank
What is needed within a large bank to ensure a BaaS proposition can be conceived, deployed and nurtured?
Indonesia
The latest fintech news, resources and expert analysis in Indonesia by the leading intelligence provider for the worldwide fintech community.
Singapore’s Kredivo Holdings secures $270m in Series D funding
Japanese banking giant Mizuho Bank led the funding round, contributing $125 million.
Indonesia’s Bank BTPN taps Surecomp for trade finance solution
Bank BTPN says the partnership with Surecomp means “we can future-proof our trade finance business”.
ICYMI fintech funding round-up: Ascendant, Evergreen, Kwara, Pilon & more
Featuring Ascendant, Evergreen, Komunal, Kwara, Pilon, and Sprinque.
Akulaku secures $200m from Japan’s Mitsubishi UFJ Financial Group
The funding will support Akulaku’s anticipated growth as it looks to provide banking services across Southeast Asia.
Bank Central Asia taps Avaloq to upgrade wealth management services
The Indonesian bank will migrate its wealth management system to Avaloq Core.
ICYMI fintech funding round-up: Ayoconnect and Tugende
The ICYMI round-up brings to you the latest funding news from around the world, every week.
Indonesian fintech unicorn Xendit sheds 5% of its workforce
Xendit says affected employees will receive “suitable compensation” alongside additional benefits.
Southeast Asian financial services group Fazz bags $100m Series C
The funding will be used towards building its business account and expanding across Southeast Asia.
Indonesian paytech Flip bags $55m in second Series B round
The new funding brings Flip’s total Series B round to over $100 million.
Razer Fintech acquires Indonesian paytech E2Pay in a bid to expand
With this acquisition, Razer Fintech says it marks its further expansion into Indonesia.
Indonesian crypto investment platform Pintu lands $113m Series B funding
Intudo Ventures, Lightspeed, Northstar Group and Pantera Capital participated in the round.
Payments infrastructure firm Xendit lands $300m Series D round
This latest round brings Xendit’s total funding raised to date to $538 million.
FinAccel snaps up majority stake in Indonesia’s Bank Bisnis
The acquisition of Bank Bisnis will allow FinAccel to offer digital banking and larger loans to Indonesians.
Planned VPC-led listing of Indonesia-based BNPL specialist Kredivo is scrapped
The companies have announced the mutual termination of a previously announced acquisition agreement.
Mastercard, Pine Labs and DBS Bank to roll out BNPL credit card offering
The solution will be available on all DBS Mastercard, Visa and American Express credit cards.
FX platform M-DAQ acquires B2B cross-border paytech Wallex
The deal forms part of M-DAQ’s growth strategy as it looks to expand into new international markets.
Thailand’s Siam Commercial Bank invests $100m in digital finance platform Akulaku
Akulaku CEO William Li says the companies share a vision for banking that is “expansive and inclusive”.
Aladin Bank turns to Google Cloud for Islamic banking tech innovation
Aladin Bank, an Islamic bank in Indonesia, has announced a “strategic collaboration” with Google Cloud.
Indonesian fintech start-up Pluang raises $55m in Series B follow-up round
The company has now raised $110 million in total Series B funding.
KoinWorks raises $108m in Series C to power Indonesia’s SME sector
KoinWorks aims to hire 400 new employees globally.
Bank Indonesia launches real-time payments infrastructure to broaden financial inclusion
The new payments system will form the “backbone” of a broader retail payment system infrastructure.
Indonesian fintech Flip plots expansion following $48m Series B
Cash will go towards strengthening its Indonesian operations and expanding its workforce.
WeLab to launch new digital bank in Indonesia following BJJ acquisition
WeLab has raised $240m to fund the acquisition – “the largest fintech funding in Indonesia in 2021”.
Indonesia’s Bank INA taps Mambu for cloud banking services
The bank says its pivot to digital will allow it to cater to the underserved and unbanked.
Standard Chartered to invest $500m in Asia’s largest BNPL platform Atome
Investment forms part of a 10-year partnership to deliver mobile financial services in the region.
UOB to spend $500m on boosting digital banking capabilities
The investment comes after the pandemic accelerated digital-first banking across Southeast Asia.
Ascend Money becomes Thailand’s first fintech unicorn with $150m fundraise
Thai fintech plans to boost financial inclusion efforts in Southeast Asia.
Oy! Indonesia raises $30m in Series A funding round
Payments firm aims to help SMEs transact digitally.
Payments infrastructure firm Xendit secures $150m funding round
Company plans to expand beyond its Indonesian and Philippines strongholds.
Indonesian digital bank Jago signs cloud banking deal with Mambu
Newly-branded digital bank seeks to capitalise on recent success with new platform.
BukuKas raises $50m Series B just four months after Series A
BukuKas’ CEO Krishnan Menon previously worked at Alibaba-owned Lazada Indonesia.
Pine Labs raises $285m in venture funding to reach $3bn valuation
Merchant payments platform Pine Labs plans regional expansion.
Amartha, Vivid Money, Expensya & a55 feature in May funding rounds
A clutch of early investment rounds from May you could have missed.
Bibit.id secures $65m funding to capitalise on Indonesian mutual fund growth
The robo-advisor is focused on Indonesia’s rapidly expanding mutual funds sector.
Jakarta wealthtech Pluang raises $20m in pre-Series B funding
Pluang wants to extend investment to poorer households in Indonesia.
Indonesian fintech Alami acquires rural bank in $10m deal
Alami is helping the bank keep up with capital requirements.
Payfazz invests $30m in Xfers to form Fazz Financial Group
FFG aims to develop solutions for the underbanked in Southeast Asia.
Fintech funding deals globally 1-7 March 2021
Featuring Klarna, Papaya Global, TaxBit, Beam Technologies, and Xendit.
Banking Tech Awards 2020 Winner: Bank BRI & Infosys Finacle – Best Use of IT for Lending
Revamping customer lending through partnerships and back-office change.
