Indonesia

Pluang has raised $55 million in a funding round led by Accel, with participation from Openspace. It plans to use the additional funding to further build out its technology capabilities and expand its asset classes. The company also plans to expand the availability of its app and services throughout key additional international markets. This expansion is…

PT Xurya Daya Indonesia (Xurya) has raised series A funding of $21.5 million. This series A funding round was led by a venture capital firm, East Ventures (Growth fund), and PT Saratoga Investama Sedaya Tbk. (Saratoga) with the returning participation of existing investors Schneider Electric and New Energy Nexus Indonesia.

The funds will be used to expand Crowdo’s neobank platform in Singapore and Indonesia and scale its ESG financing portfolio. Crowdo is headquartered in Singapore but fully licensed by the Indonesian financial authority Otoritas Jasa Keuangan for digital lending in since 2017. The fintech is also registered with the Securities Commission Malaysia.

KoinWorks has raised $108 million Series C funding round led by MDI Ventures, Previous equity investors such as Quona Capital, Triodos Investment Management, Saison Capital, ACV and East Ventures also participated in the round. The funding, which consists of $43 million in equity and $65 million in debt capital, will be used to scale KoinWorks’ solutions…

eFishery has successfully closed $90 million in its Series C round. This round of investment was co-led by Temasek, SoftBank Vision Fund 2, and Sequoia Capital India, with participation from existing investors including the Northstar Group, Go-Ventures, Aqua-Spark, and Wavemaker Partners. The funds raised will be used to scale up its platform and to…

J&T Express has official launhced its express network in the United Arab Emirates (UAE) and Saudi Arabia. The two countries are the first markets to be covered by the firm in the Middle East, and the latest expansion brings the firm's global network coverage to a total of ten countries.

Olsera has raised $2.5 million in seed round funding from Kejora-SBI Orbit. With this fresh capital, Olsera seeks to strengthen its technological infrastructure, recruit more talents and accelerate their merchant acquisition in another 200 cities in Indonesia.

Indonesian conglomerates CT Corp, Salim Group, e-commerce marketplace Bukalapak, ride-hailling firm Grab, used car marketplace Carro, and private equity firm Growtheum Capital Partners have jointly participated in the rights issue of Bank Allo to accelerate the expansion of credit services across Indonesia. Bank Allo is a fully licensed bank offering…

Kopi Kenangan has raised $96 million in the first closing of a Series C funding, giving the company a valuation of more than $1 billion. The oversubscribed Series C round was led by Tybourne Capital Management, with participation from existing investors including Horizons Ventures, Kunlun, and B Capital, and new investor Falcon Edge Capital, Kopi Kenangan.

The firm, which has invested in several small and medium enterprises (SME) solutions companies, like GudangAda and UnaBrands, also believes that these firms will be the "next big trends" in the region.