Fintech

Kredivo CEO Umang Rustagi said the funds will help the company reach its target of 10 million users in the country.

The number of crypto investors in Indonesia now exceeds its 2.2 million stock traders, per data released in March by the Indonesian Stock Exchange.

Open banking initiatives benefit “embedded fintech” solutions that are set to grow into a USD 3.6 trillion market, according to Bain Capital.

In May, Walmart-owned PhonePe signed the term sheet to acquire an over 90% stake in Indus OS, to boost its super app dream on the back of the latter’s content and app discovery platform.

The firm is partnering with large banks across the region that are increasingly attracted to the crypto space.

The firm is set to expand to Indonesia, Malaysia, and Vietnam in the next two years.

There is scant public information about Caturnusa Sejahtera Finance, Traveloka’s subcontractor, for its pay later service.

There is increased interest in Indonesia from American VCs, BukuWarung co-founder says.