Indonesian fintech firm banks $15m, promotes ex-Gojek exec to CEO

Mapan, an Indonesia-based fintech firm, has raised US$15 million in a series A raise co-led by Patamar Capital and PT Astra Digital Internasional, with 500 Global participating. Ardelia Apti, a former Gojek executive who serves as Mapan’s chief commercial officer, was also appointed as the startup’s new CEO. Founded in...

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[TechCrunch] Mapan's services helps low-income Indonesians users afford goods and services

Originally posted on TechCrunch By Catherine Shu Photo Caption: Mapan’s team, with CEO Ardelia Apti in the front.  In Indonesia, arisans are traditionally rotating savings and credit associations (RSCA) that let groups of people, primarily women, save and borrow money together. Mapan digitized that concept and turned it into a service where...

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[Nikkei Asia] Bangladesh tech startup ShopUp nets $65m in new funding

Originally posted on Nikkei Asia By Mars W. Mosqueda Jr. Photo caption: Bangladesh is one of the most fragmented retail markets in Asia, relying on neighborhood shops across the country that ShopUp wants to get online. (Photo courtesy of ShopUp) CEBU, Philippines -- Bangladesh-based business-to-business commerce startup ShopUp has raised $65 million in a...

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[The Sun Daily] Qoala aims to be top insurance intermediary in Malaysia

Originally posted on The Sun Daily By Gloria Harry Beatty Photo Caption: Teng says Qoala ventured into Malaysia, its first expansion destination outside Indonesia, as it is an advanced market and there is an opportunity to grow an online business model here. – HAFIZ SOHAIMI/THESUN KUALA LUMPUR: Qoala, through its Malaysian...

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[Business Standard] Mobile-based PoS app QueueBuster raises Rs 63.3 cr in series A round

Originally posted on Business Standard QueueBuster, a mobile-based POS application, has raised Rs 63.3 crore (about $8.16 million) in a Series A round led by Chiratae Ventures, Omidyar Network India and Flourish Ventures. DMI Alternative Investment Fund (the Sparkle Fund) and Unaprime Investment Advisors (an exclusive banker to QueueBuster) also...

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[The Standard] Accelerating financial inclusion through the use of embedded finance

Originally posted on The Standard Embedded finance demonstrates an opportunity for fintechs, banks and lenders to create more tools and resources for those that may not have access to traditional banking. Until a few years ago, getting a loan from a bank was quite an arduous task. The banking and...

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[StartUp City] Is Latin America the hottest fintech market in the world?

Originally posted on StartUp City Fintech is booming in Latin America. Venture funding in the region hit $19.5 billion in 2021—more than three times the investment level from 2020. With 650 fintech deals in Latin America backed by VCs, it was a record-breaking year. Amid all this investment, fintech continues...

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Revolving debt’s challenge to financial health and one way to help consumers pay it off [Brookings]

Jennifer Tescher and Corey Stone Credit cards offer consumers convenience as both a payment vehicle and a source of short-term credit. Revolving credit permits consumers to enjoy immediate purchase of goods and services (in the absence of funds or in lieu of tapping savings), to make large ticket purchases without having to...

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Tech serves Tamil Nadu farmers

CHENNAI: Palani Muthu from Sirkazhi has been farming shrimp for the past 17 years. Three years ago, when he was struggling with poor survival of shrimp, he learned of Aquaconnect. A representative from the acquaculture startup visited his farm and helped him fix the problem. Now, the startup helps with...

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[Hummingbird] Fighting Financial Discrimination with Thoughtful Product Design

Originally posted on Hummingbird By Joe Robinson, Hummingbird CEO Here’s a simple truth. There is no way to understand the financial industry without also understanding our country’s long and difficult struggle against financial discrimination. Discrimination and economic disenfranchisement go hand in hand, and some of the worst forms of racism...

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[Reinsurance News] Qoala becomes SEA's fastest growing insurtech through $65m Series B funding

Originally posted on Reinsurance News By Jack Willard Indonesian insurtech start-up Qoala, has announced that it has successfully raised Series B funding of US$65 million, a thirty times growth since the company’s Series A round in April 2020. The Series B funding was led by by Eurazeo with participation from...

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[Inc42] Wholesale Ecommerce Startup ApnaKlub Raises $10 Mn From Tiger Global To Take Its Platform To 20K Partners

Originally posted on Inc42 By Gunja Sharan Since 2020, ApnaKlub has welcomed more than 5,000 partners on its platform and is planning to expand its reach The startup raised about $4 Mn in funding from Sequoia India’s Surge, Blume Ventures, Whiteboard Capital and Flourish Ventures in August 2021 With ApnaKlub,...

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