Uber-Competitor Grab Plans $700 Million Fintech Investment in Indonesia
South-east Asia’s biggest ride-hailing platform Grab has unveiled plans toward a $700 million investment in Indonesia. The majority of which will be toward Fintech development, particularly mobile payment and financial services in the country. Singapore-based Grab which sees a major presence in a number of Southeast Asian countries including Singapore, Malaysia, Thailand, the Philippines and Vietnam is gearing up toward a major investment drive in Indonesia, a country that is already Grab’s largest market. As revealed by its announcement, the well-funded Uber competitor is planning to....
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Indonesia’s Bank Central Asia (BCA), the country’s largest private bank, has steamrolled its way into the Fintech space with an investment of 200 billion rupiah (approx. $15 million) in financial technology startups and companies. The private lender is establishing Central Capital Ventura (CCV), owning all 100% of the new capital venture firm. According to an official BCA statement submitted to the Indonesia Stock Exchange (IDX), investments will directly benefit BCA and its financial services offerings in the country. As reported by the Jakarta Post, an excerpt from the stock exchange....
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