Indonesia’s Julo raises $10M to expand its P2P lending platform

Julo, a peer-to-peer lending platform in Indonesia, said on Wednesday it has extended its $5 million Series A raise to $15 million as it looks to scale its business in the key Southeast Asian market. The $10 million Series A2 round for the Jakarta-headquartered startup was led by Quona Capital, with Skystar, East Ventures, Provident, […]

Waresix hauls in $14.5M to advance its push to digitize logistics in Indonesia

Waresix, one of a handful of startups aiming to modernize logistics in Indonesia — the world’s fourth most populous country — has pulled in $14.5 million to grow its 18-month-old business. This new investment, Waresix’s Series A, is led by EV Growth — the growth-stage fund co-run by East Ventures — with participation from SMDV […]

EV Growth closes $200M fund to cover Southeast Asia’s Series B funding gap

East Ventures has long been known as one of Indonesia’s longest-serving and most active seed-stage investors, but now it has officially moved up the food chain after it announced a final close of its growth fund at $200 million. Called EV Growth, the fund is a joint venture between East Ventures, SMDV — the VC […]

Indonesia’s vegetable hawkers are going digital thanks to a new startup

Few things are more interesting than the convergence of old and new. It’s with that in mind that we once again look to Indonesia, where East Ventures, an early-stage VC that’s behind a project to digitize the country’s street vendors, has backed a new startup that is modernizing street vendors who sell fresh produce. In […]

Vertex Ventures hits $230M first close on new fund for Southeast Asia and India

Tis the season to be raising in India and Southeast Asia. Hot on the heels of new funds from Strive and Jungle Ventures, so Singapore’s Vertex Ventures, a VC backed by sovereign wealth fund Temasek, today announced a first close of $230 million for its newest fund, the firm’s fourth to date. Vertex raised $210 […]

ShopBack, a cashback startup in Asia Pacific, raises $45M from Rakuten and others

ShopBack, a Singapore-based startup that offers cashback and consumer rewards in Asia Pacific, has closed a $45 million round led by new investors Rakuten Capital and EV Growth. Founded in 2014, the startup had been relatively under-the-radar until late 2017, when it announced a $25 million investment that funded expansion into Australia, among other things. […]

First China, now Starbucks gets an ambitious VC-funded rival in Indonesia

Asia’s venture capital-backed startups are gunning for Starbucks . In China, the U.S. coffee giant is being pushed by Luckin Coffee, a $2.2 billion challenger surfing China’s on-demand wave, and on the real estate side, where WeWork China has just unveiled an on-demand product that could tempt people who go to Starbucks to kill time or […]

Warung Pintar raises $27.5M to digitize Indonesia’s street vendors

The digital revolution in Indonesia, Southeast Asia’s largest economy, continues to attract big money from investors. Hot on the heels of a $50 million round for Bukalapak, a billion-dollar company helping street stall traders to tap the internet, so Warung Pintar, another startup helping digitize the country’s vendors, has pulled in $27.5 million for growth. Bukalapak […]

Indonesian fintech startup Moka raises $24M led by Sequoia India

Indonesia’s Moka, a startup that helps SMEs and retailers manage payment and other business operations, has pulled in a $24 million Series B round for growth. The investment is led by Sequoia India and Southeast Asia — which recently announced a new $695 million fund — with participation from new backers SoftBank Ventures Korea, EDBI — […]

Indonesia’s EV Hive raises $20M for its co-working business to rival WeWork

WeWork is setting its sights on Southeast Asia, but that isn’t stopping local rivals from building up there business. In Indonesia, EV Hive — a co-working brand first started by a VC firm — has pulled in $20 million for expansion as its U.S.-based rival increases its focus on Indonesia. The company was founded in […]