How tech startups navigate the business in the global uncertainty
Lately, the promising future offered by the tech industry has been clouded by several issues, ranging from declining valuations to massive employee cuts. Global uncertainty is heightened by several downside risks, such as rising inflation, US interest rate hikes, energy and food price volatility, and the geopolitical threats from the Russia - Ukraine war.
Kini, an Indonesian on-demand payroll provider, raised US$ 4.3 million in seed funding led by East Ventures
Kini, an Indonesian on-demand payroll provider, raised US$ 4.3 million of seed funding led by East Ventures, with participation from other investors. Kini will allocate the fresh funds to continue building out its HR-Fintech product suite, and invest in expanding enterprise partnerships and HR tech providers to power their HR-fintech solutions through a single API.
How ALAMI drives sustainable Islamic finance in Indonesia
Being part of the sharia market in Indonesia might be an advantage for some sharia-financing products and fintech platforms. With the rise of awareness for sharia products & services and the growth of the Islamic finance industry, the sharia-based platforms have an enormous opportunity to seize Indonesia's market.
JiPay raised US$ 1.3 million of Seed funding led by East Ventures
JiPay, a Singapore-based fintech startup creating an inclusive financial services platform for migrant domestic workers, announced that it has secured US$ 1.3 million in Seed funding. This round of funding was led by East Ventures, with participation from SHL Capital as well as strategic angels including the Manila Angel Network and Shivaas Gulati (Co-Founder of Remitly).
wagely nets additional US$ 8.3 million in oversubscribed pre-series A funding
wagely, Asia’s fastest-growing financial wellness platform has raised $8.3 million in an oversubscribed pre-series A funding as the company scales its platform to help workers access their earned salaries on demand in Indonesia and Bangladesh. The funding comes in just seven months after securing its seed funding.
The role of fintech in closing the financial gap in Indonesia
In recent years, Indonesia's digital financial services have experienced a boom as COVID-19 became the unexpected catalyst that accelerates digital transformation and technology adoption. The immense adoption of digital financial services is driven by several key factors, including growth in mobile internet penetration, the rise of digital merchants, and accelerating consumers' adoption.
Fraction raises US$3 million led by East Ventures to democratize investments by turning real estate and more into fractional NFTs
Fraction, a Hong Kong and Bangkok based fintech startup, announced that it has secured US$3 million in a pre-series A round led by East Ventures, with participation from Emtek Group (Grab, Bukalapak), Thakral Limited, V Ventures and a group of regional investors.
East Ventures 2021 recap: 80+ deals made across SEA’s fastest growing sectors, aiming for sector diversification in 2022
Welcoming the new year of 2022, East Ventures is taking this opportunity to look back and reflect on the year 2021. Just like the rest of the world, the COVID-19 pandemic has also severely impacted our ecosystem—not only Indonesia, but it also took a heavy toll on Singapore and other SEA countries as well.