Sircolo, an e-commerce solutions company, acquires Warung Pintar, a marketplace for independent retailers (“warungs”). The acquisition aims to strengthen Sirclo’s proposition as the go-to omnichannel solution for brands, distributors, MSME merchants, and end consumers. Sirclo Group CEO, Brian Marshal, said
Fintech lending startup, KoinWorks, received US$108 million (IDR 1.6 trillion) in Series C funding. The funding round was led by MDI Ventures, the corporate venture capital arm of Telkom Indonesia. Other participating investors are Quona Capital, Triodos Investment Management, Saison
Bukalapak , CT Corp, Salim Group, Grab, Carro, and Growtheum Capital Partners have collectively invested into the capital pool of PT Allo Bank Indonesia, raising its capital base to more than US$420 million (IDR 6 trillion). This gives Allo Bank
Flip is an Indonesia fintech that offers consumer payment services, and facilitates reliable transactions from anywhere to anyone. The Series B investment round was led by Sequoia Capital India, Insight Partners, and Insignia Ventures Partners. Some of Flip’s products are
Indonesia has the fifth largest number of startups (2,305 in total) globally, according to Startup Ranking. Based on Startup Ranking data, the country with the most startups in the world is the United States with 69,565 companies, followed by India
The Minister of Communication and Information (Kominfo) expects Indonesia to have two decacorns (startups with a valuation >US$ 10 billion), following Gojek’s success. Kominfo estimates Indonesia’s digital economy to reach US$ 124 billion by 2025 and US$ 315.5 billion
The latest report by Bain, Microsoft and Temasek Holdings, highlights the green economy opportunity in Southeast Asia. Currently, there are at least eight startups in Indonesia, including Gojek, investing in decarbonisation initiatives. The report highlights an investment gap of
Indonesia’s agriculture sector remains underinvested and has yet to realise its economic potential. Microsoft and agricultural startup, TaniHub Group, aims to address this by providing technology-enabled services to increase productivity. However the technology companies in the agriculture sector face three
According to BRI Ventures’ Chief Investment Officer, William Gozali, there were 87 Indonesian startups that received funding during the first half of 2021, and estimated the actual total numbers to be more than 100. Cumulatively, the startups have raised US$
Since the pandemic, 15.3 million MSMEs have entered the digital ecosystem. However, the technology companies face several key challenges in targeting the MSME sector, such as loose supply chains for the FMCG sector, MSME credit gap, and storage capability. Nevertheless,
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