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Payment platform Durianpay bags $2m from Sequoia Capital, others
Payment platform Durianpay has received US$2 million in funding led by Sequoia Capital India’s accelerator program, Surge. Founded less than a year ago, the company aims to cash in on Indonesia's growing e-commerce market.
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Illustration of financial technology (fintech) (Shutterstock/File)
F
inancial technology platform Durianpay announced on Thursday that it has received US$2 million in a funding round led by Sequoia Capital India’s accelerator program, Surge.
The investment was part of Surge’s fifth accelerator program, in which 23 start-ups across Southeast Asia were chosen for various types of training. Durianpay was one of three Indonesian companies selected for the program.
Other investors in Durianpay’s latest round include Kenangan Fund, AC Ventures and several angel investors.
“Durianpay offers a one-stop solution for businesses across the region to better manage their payment processes. We built our products and payment solutions […] with a vision to modernize payments by providing secure, easy and customizable solutions," Durianpay cofounder Natasha Ardiani said in a statement quoted by Kontan.com.
Durianpay’s platform offers automatic reconciliation features, instant payment links, promo features as well as an easy-to-integrate modern application programing interface (API) and dashboard for online and social commerce sellers.
Natasha added that users could change their payment infrastructure without requiring external intervention, including the ability to connect third-party solutions for fraud detection and know-your-customer (KYC) processing.
The company has partnered with several payment gateways and fund-transfer providers, such as local banks, e-wallet OVO, ShopeePay as well as debit and credit cards issued by Visa and Mastercard, allowing businesses to have access to a wider range of payment options.
