Indonesian fintech startup Wagely has secured $23 million in funding. The latest funding round, a combination of equity and debt financing, was led by Capria Ventures, a venture capital firm specializing in applied Generative AI. Existing investors also participated, along with a contribution from a private debt fund.  Wagely, known for its earned wage access […]

Indonesian raw material procurement startup Bababos has secured $3 million in seed funding round. Venture capital firm East Ventures led the latest funding round, focusing on Indonesia’s booming tech scene. Joining them in this investment are Patamar Capital and Accion Venture Lab.  The funding comes only six months after East Ventures led the startup’s pre-seed […]

Venture capital firm 500 Global has successfully closed its 500 Southeast Asia III fund, amassing $143 million in capital. It is the firm’s largest early-stage fund dedicated to Southeast Asia. It serves as its primary investment vehicle for startups throughout the region’s growth journey, from pre-seed stages to the cusp of initial public offerings (IPOs). […]

Indonesia’s Maka Motors, an electric vehicle startup specializing in two-wheelers, has successfully concluded its seed funding round, raising US$37.6 million. The company, co-founded by two former executives from the Indonesian ride-hailing giant Gojek, managed to secure the funding while still in the research and development stage, making it one of the largest seed funding rounds […]

Indonesian fintech startup Orderfaz has successfully concluded a pre-seed funding round, as announced on Thursday. The round was led by Singapore-based venture capital firm 1982 Ventures, which acted as the sole investor. The exact amount of funding raised in the round has not been disclosed. Orderfaz, a recently established fintech startup, focuses on serving the […]

Indonesian supply-chain startup Baskit has successfully raised $3.3 million in a seed funding round, as announced on Tuesday. The round was led by venture capital firm Betatron Venture Group, with participation from Forge Ventures and Indonesian tobacco magnate Michael Sampoerna. This funding comes shortly after Baskit‘s pre-seed funding round of $1.5 million in March, which […]

Japanese financial giant Mitsubishi UFJ Financial Group (MUFG) has announced its plans to acquire Mandala Multifinance, an Indonesian auto loan provider, for 7 trillion rupiahs ($467 million). As part of the deal, MUFG’s subsidiary, MUFG Bank, will hold a 70.6% stake in Mandala Multifinance, while Adira Dinamika Multi Finance, a subsidiary of Bank Danamon, will […]

Southeast Asia-focused venture capital firm Go-Ventures has successfully concluded the final close of its second flagship fund, raising a total of $240 million. As part of the announcement, the company has rebranded itself as Argor Capital Management.  The second fund has garnered support from diverse investors, including sovereign wealth funds, institutional investors, corporates, and family […]

Indonesian startup, Finfra, has secured $1 million in new funding to expand its embedded finance offerings. The funding round saw participation from several prominent investors, including DSX Ventures, Seedstars International Ventures, Cento Ventures, Fintech Nation, FirstPick, BADideas Fund, and Hustle Fund The startup plans to utilize the recently raised $1 million funding to focus on […]

Indonesia’s digital mortgage startup, Ringkas, has secured $3.5 million in seed funding. The funding round was co-led by East Ventures and Crestone Venture Capital, with participation from 500 Global, Teja Ventures, Orvel Ventures, Hustle Fund, and others. With the fresh capital infusion, Ringkas intends to advance and scale its platform in multiple cities across Indonesia […]