East Ventures’ portfolio companies listed amongst Tech in Asia’s 50 rising startups in Indonesia
Which startups are on the path to becoming the next big thing? One way to tell would be to check when they’ve raised a new round. Tech in Asia has generated a list of startups in Indonesia that have recently raised funding.
Closing 2022 with high achievements, Komunal raises new funding led by East Ventures
Komunal, the first fintech company to digitize BPR in accelerating the financial inclusion in Indonesia’s tier 2 and tier 3 cities, announced that it has successfully secured US$ 8.5 million of funding led by East Ventures (Growth fund). This funding round is also participated by AlphaTrio Sustainable Technology Fund, Skystar Capital, Sovereign’s Capital, Ozora, and Gobi Partners. This fresh fund will be used towards the company's mission, which is to accelerate financial inclusion and strengthen the neo-rural bank ecosystem in Indonesia, especially outside the Greater Jakarta area.
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.
The role of fintech lending to Indonesia’s agribusiness sector
Agriculture plays a significant role in Indonesia's economic growth and development. It contributed to 14% of the nation's GDP in 2020, and the sector employs 29% of the Indonesian workforce. However, most Indonesian farmers are still living in poverty. According to World Bank’s data, around half of the Indonesian farmers are smallholders that earn an average of US$ 3.2 per day.
East Ventures-backed startups, Xurya, Nusantics, and Komunal, were crowned as Top Startup in the G20 Digital Innovation Network 2022
East Ventures-backed portfolio companies: Xurya, Nusantics, and Komunal, have been crowned as the Top Startup in the G20 Digital Innovation Network 2022, held in Bali, Indonesia, from 2 - 4 September 2022. They represented Indonesia on this global stage as part of the G20 Presidency of Indonesia with a theme of "Recover Stronger, Recover Together".
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.
East Ventures di 2021: 80+ deal di berbagai sektor unggul di Asia Tenggara rampung, mengincar diversifikasi sektor di tahun 2022
Menyambut tahun 2022, East Ventures mengambil kesempatan ini untuk melihat kembali dan merefleksikan tahun 2021. Sama seperti di seluruh dunia, pandemi COVID-19 juga memberikan dampak yang sangat besar pada ekosistem kami—tidak hanya di Indonesia, namun juga Singapura dan negara-negara Asia Tenggara lainnya.
Komunal expands Indonesia’s financial inclusion through digitalization in government and MSMEs ecosystems
Today, the adoption of the digital economy has increased tremendously outside Jakarta. Despite that, there is still a wide financial gap in Indonesia. This situation called for Hendry and his peers, Kendrick Winoto and Rico Tedyono to give birth to Komunal in 2018 with one vision in mind: to accelerate the country’s financial inclusion by eliminating the aforementioned gap.