01Fintech receives investment from Indonesia’s Sinar Mas

01Fintech, a growth-stage private equity firm specializing in financial technology in Southeast Asia, has announced a strategic partnership with Sinar Mas Financial Services (SMMA), a subsidiary of Sinar Mas Group, one of the largest conglomerates in Indonesia.

SMMA provides a broad range of financial services, such as life and non-life insurance, securities, banking, capital markets, as well as Web3 and fintech services to over 25 million customers daily.

The partnership will involve 01Fintech leveraging its market insights, investment experience, technical and operational expertise, and proven unicorn-building experience to transform and operationalize SMMA’s fintech vision and ambition.

The partnership is the latest in a series of announcements by SMMA to shore up its fintech capabilities within the group and to the larger Indonesian economy.

With 01Fintech Founder and Managing Partner Kenny Man’s established experience in building many fintech unicorns in the region, the announcement underscores the scale of SMMA’s fintech vision.

The partnership will leverage 01Fintech’s team’s specialization to drive synergies among the business units and various fintech investments across the entire Sinar Mas Group ecosystem.

01Fintech stands apart from traditional private equity firms that simply provide capital to growth-stage companies.

With a commitment to expanding financial services access for all and leveraging its extensive global LP network that comprises prominent fintech CEOs, family offices, and conglomerates in Asia Pacific, 01Fintech goes beyond funding and regularly offers strategic, operational, and technical guidance to portfolio companies and partners seeking to adopt financial technology.

“We’re thrilled to partner with Sinar Mas Financial Services as we shape the future of fintech in Southeast Asia. Together, we are committed to helping SMMA achieve its digital transformation goals, and ultimately, bring greater synergy to the Sinar Mas Group through this digitization exercise,” said Kenny Man, Managing Partner of 01Fintech.

“Our work to support and nurture promising fintech companies in the region will still continue, now with additional funds from SMMA. We look forward to driving fintech growth in Indonesia and being part of the new wave of innovative financial solutions that will transform the industry.”

Pak Indra Widjaja, President Commissioner, SMMA, commented, “01Fintech’s team has a proven track record of identifying and nurturing promising fintech companies in Southeast Asia, and we are confident that their expertise and guidance will play a crucial role in building our fintech ecosystem for more seamless collaboration and better consolidation of resources within the Group.”

01Fintech is a growth-stage fintech private equity firm in Asia (ex-China) with a core emphasis on Southeast Asia. The company strongly believes that technology can play a crucial role in providing financial services to underbanked and underserved communities in the region.

Leveraging its extensive global LP network that comprises prominent CEOs, family offices, and conglomerates in Asia Pacific, and together with entrepreneurs and company founders, 01Fintech aims to make a difference in people’s lives and make digital financial services accessible to all.