Indonesia

Indonesia fintech Wagely makes bank while helping the unbanked

Wagely, a fintech out of Indonesia, made a name for itself with earned wage access: a way for workers in Southeast Asian countries to get advances on their salaries without resorting to higher-interes

AC Ventures closes its new $210M Indonesia-focused fund

In the middle of a long funding winter, AC Ventures’ latest news will give Southeast Asian startups hope. The Jakarta, Indonesia–based venture firm announced today it has raised $210 million, fini

TikTok to invest $1.5B in GoTo’s Indonesia e-commerce business Tokopedia

ByteDance’s TikTok wants to do more business in Indonesia — Southeast Asia’s biggest e-commerce market. So after facing roadblocks from the regulators, it’s now come up with a

Gravel gets funding from NEA to support Indonesia’s booming construction industry

Indonesia’s construction industry is growing quickly, driven by residential and industrial building, alongside infrastructure development plans by the government. Sourcing skilled labor is still a t

Backed by East Ventures, Fr8Labs aims to digitize Asia’s logistics industry

In Western markets, freight forwarders are well into digitizing their operations, but the same doesn’t hold true in Southeast Asia, say the founders of Fr8Labs. The reasons for that include the lack

With $37M seed round, Maka Motors begins EV pilot on Indonesia’s streets

A recent report said that Indonesia’s electric vehicle (EV) market is projected to reach $20 billion by 2029, up from $533 million in 2022. Moreover, as much as half of the overall motorbike ma

Indonesian aquaculture startup eFishery nets $200M at unicorn valuation

After reports that it is raising new funding, Indonesian aquaculture startup eFishery announced today that it has netted $200 million in a Series D. The company, which makes a smart feeding system for

TikTok launches a music streaming service in Brazil and Indonesia called ‘TikTok Music’

TikTok has already dominated the short-video and social media market, and is now looking to take on Spotify and Apple Music with its latest offering. The company announced today that it’s launch

Supply chain startup Baskit supports Indonesia’s middlemen

Large brand distributors dominate the top of the supply chain, but toward the bottom, there are thousands of middlemen, including wholesalers, who are the ones creating relationships with retailers. F

Finfra lets Indonesian businesses add embedded finance to their platforms

Finfra, an Indonesian startup that provides the tech infrastructure for online businesses that want to offer embedded finance products, has raised $1 million in new funding. The round included partici

Indonesia’s Skorlife gets funding to give Indonesians power over their credit scores

Skorlife, the fintech that wants to give Indonesians more transparency into their credit scores, has raised $4 million in seed funding. The round was led by Hummingbird Ventures, with participation fr

Praktis lands $20M to help Indonesian D2C brands handle their supply chains

Small to medium-sized enterprises contribute 60% of Indonesia’s gross domestic product. But companies in the D2C space still struggle to compete against bigger brands. Praktis wants to put them on a

Muslims come into the frame in Southeast Asia’s fintech boom

Founded in 2014, Blossom Finance was first intended for Muslim entrepreneurs in the United States. The microfinancing platform connects investors with small businesses using mudarabah, a shariah-compl

Jakarta-based cloud kitchen startup Legit Group gets Series A to take over the rest of Indonesia

Legit Group, a cloud kitchen brand operator based in Jakarta, has its eyes on the rest of Indonesia after raising a $13.7 million Series A. The round was led by MDI Ventures, the venture capital arm o

Southeast Asian credit fintech Kredivo scores $270M Series D

The funding landscape in Southeast Asia is still wintery, but one fintech managed to land a major round. Kredivo Holdings, which offers credit services to underbanked consumers in Indonesia and Vietna

Prosus in talks to sell Olx Autos business in India, other markets

Prosus is actively engaging with multiple players to explore the sale of classified business Olx’s Autos unit in several markets, including India and Indonesia, according to a source familiar wi

Twitter launches subscription service Blue in India, Indonesia and Brazil

Twitter has rolled out its subscription service, Twitter Blue, to users in India, Brazil and Indonesia, it said on Wednesday, tapping large key overseas markets where it has amassed over 100 million u

MUFG, Japan’s largest bank, launches $100M fund for Indonesian startups

MUFG, Japan’s largest bank by market cap, announced today the launch of a $100 million fund focused on Indonesian startups. The fund, a collaboration between MUFG subsidiaries MUFG Innovation Partne

Komunal raises $8.5M to digitize Indonesia’s rural banks

Komunal is reaching out to Indonesia’s rural customers by going where they are. The fintech partners with more than 220 banks in tier 2 and tier 3 cities spread through 19 provinces. Founded in 2019

Jakarta-based Mindtera helps companies keep an eye on employee morale

During the pandemic, Tita Ardiati and Bayu Puspito Bhaskoro began developing life coaching content to support employees who were increasingly burned out by working from home. They got a good enough re
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