Indonesia

PasarPolis, an Indonesia-based insurtech firm, has become Indonesia's first official full-stack insurtech ecosystem, giving the company the ability to both distribute and underwrite its own digital insurance products.

Indonesia-based fintech company Xendit has officially entered the Malaysian market offering up its diverse range of hyperlocal payment solutions to businesses in the country from small and medium sized enterprises (SMEs) and start-ups to giant corporations alike.

Indonesia-based venture capital firm East Ventures announced Tuesday that Wesley Tay joins East Ventures as its new Principal. Wesley will oversee the investments focusing on the seed stage, and will be based in Singapore.

Malaysia's Penjana Kapital Sdn Bhd (Penjana Kapital), announced Monday it has signed a memorandum of cooperation with Indonesian-focused private investment firms Indies Capital Partners and AC Ventures (ACV), for cross-border investments and technology transfer.

Malaysia-listed Citaglobal Berhad (formerly known as WZ Satu Bhd) has entered into a memorandum of understanding (MOU) with PT Industri Baterai Indonesia or Indonesia Battery Corporation (IBC) for the proposed development of a battery cells manufacturing plant and Battery Energy Storage System (BESS).

FLIK, an Indonesian-based startup that provides a unified checkout solution, announced Monday that it had secured $1.1 million of pre-seed funding led by East Ventures. The round also saw the participation of Init-6, GMO VenturePartners, and Saison Capital. 

There are reasons to be optimistic, according to VC firms.

Crypto assets in the country are currently traded alongside commodity contracts under the supervision of the Commodity Futures Trading Regulatory Agency.

NusaTrip, Indonesia's first IATA-certified online travel agency (OTA) and the travel vertical of Society Pass Incorporated (SoPa), has on Wednesday announced the opening of its first regional office in Singapore and first office outside of Indonesia.

Gojek has on Tuesday announced the expansion of its transport offering in Singapore with the scheduled launch of GoCar Kids and GoCar XL Kids, its on-demand service type for those travelling with children aged four to seven years.