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Jakarta Post

Start-up digest: Indonesian fintechs continue winning streak in fundraising

  • Eisya A. Eloksari

    The Jakarta Post

Jakarta   /   Wed, March 3, 2021   /  01:15 pm
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Stock illustration of financial technology (fintech)(Shutterstock/File)

Investments continued to pour into financial technology (fintech) firms in the last week of February, which are leading Indonesia’s start-up funding scene. Expert projections see even greater expansion for the sector in a continuation of last year’s growth trend. Investment and wealth management platform FUNDtastic raised US$7.7 million in series A funding from a group of investors, among them American financial advisory firm Ascend Capital Group and Indonesian investment holding company Indivara Group. “We are going to expand our market and diversify our products and features so we can better serve consumer needs,” FUNDtastic cofounder and CEO Harry Hartono said on Feb. 22 as quoted by Last year during the pandemic, the company acquired investment fintech Invisee to expand its user base to 110,000, an increase of five times its 2019 figu...