KoinWorks logs revenue gain, targets profitability by 2024
The Jakarta-based company posted US$15 million in net revenue during the period, according to filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA).
From principles to practice: Shariah investing in Southeast Asia
While Southeast Asia houses a massive Muslim population, many of them struggle to find investment options that align with their faith. Sharia investment, which adheres to Islamic principles, is emerging as a powerful solution.
Inside Indonesia’s most financially literate provinces and what to learn from them
Across Indonesia’s vivid archipelago, a financial revolution is taking place. The nation’s financial landscape is transforming remarkably through the rise of the financial technology (fintech) industry. The latest edition of the East Ventures – Digital Competitiveness Index (EV-DCI) 2023 shows that the fintech development, leveraging on the enormous number of the productive-age population that earned an income, has been astounding. A fusion of financial innovation and education is reshaping the economic landscape and empowering communities like never before.
Jack’s financial solutions to empower Indonesia’s SMEs
Indonesia is witnessing a significant rise in its new middle class, primarily driven by digital technology. Small and Medium-sized Enterprises (SMEs) are at the heart of this transformation, set to become a key driver of Indonesia's development.
The future of fintech in Indonesia: Empowering financial inclusion and literacy
Financial technology (fintech) has experienced a notable surge in the new normal due to the COVID-19 pandemic. The potential of higher user penetration and a significant rise in digital transactions in the future has set the pace for the advancement of fintech.
Pocket, a family financial management platform startup, raised pre-seed funding led by East Ventures
Pocket, an Indonesia-based fintech startup providing a holistic financial health platform for families, announced the completion of an undisclosed amount of pre-seed funding led by East Ventures. Pocket will allocate the fresh funds mainly for product penetration in increasing adoption and users. Pocket will also invest in developing its product and offering to complete the platform ecosystem.
New investment fuels up ALAMI Group in pre-series B round led by East Ventures (Growth fund)
ALAMI Group, a leading Indonesian Shariah-compliant SME lending platform announced that it has successfully closed pre-series B round led by East Ventures (Growth fund) alongside returning investors namely AC Ventures, Quona Capital and FEBE Ventures. US-based venture capital firm Capria Ventures also joined the round, marking its first direct investment in Asia Pacific. The amount of the funding was not disclosed.
Pushing financial literacy after inclusion
Financial inclusion is crucial for any nation to accelerate economic growth by improving equal financial access and support for doing business, such as transactions, payments, savings, credit and insurance. Financial inclusion will foster entrepreneurship and scalability, which will lead to reducing poverty and economic inequality in the long term.