#Start-up
Cakap secures series C funding for blended learning and earns centaur status
Education technology (edutech) company Cakap has been nominated as a centaur after receiving series C funding from MDI Ventures and Heritas Capital with undisclosed funds. Following the granting of the fresh funds, Cakap's valuation now reaches up to between US$100 million to US$ 1 billion (IDR 1.5 to 14.8 trillion).
Exploring trends and challenges in Indonesia's startup industry: Focus on green tech, embedded finance, and health tech for 2023
Early 2022 marks a rough beginning for startups. A number of major events became important highlights within the startup industry.
Kredivo raises US$ 270 million in D series funding round led by Mizuho Bank
Mizuho Bank Ltd, a subsidiary of Mizuho Financial Group, Inc., oversaw an oversubscribed series D funding round, raising US$ 270 million (IDR 4 trillion) for Kredivo Holdings, Kredivo's holding company, and Krom Bank which was founded in 2016.
P2P lending faces growing concerns over non-performing loans
The Financial Services Authority (OJK) reported a significant increase in non-performing loans (NPLs) for over 90 days from fintech P2P lending platforms. As of October 2022, the NPLs had risen to IDR 1.42 trillion (US$ 95.3 million), a 140.78% increase from from the previous year of IDR 593.44 billion.
Danamon, MUFG to invest US$ 100 million in Garuda Fund
PT Bank Danamon Indonesia Tbk and MUFG Bank announced a placement of US$ 100 million in a Venture Fund focusing on Indonesia called the MUFG Innovation Garuda No. 1 Limited Investment Partnership, or Garuda Fund.
Kopi Kenangan plans global market expansion in 3 years
Indonesia unicorn company Kopi Kenangan has planned to launch an IPO in the Indonesia Stock Exchange (IDX) although not in the foreseeable future. Instead, the company is focusing on global expansion as a corporate action before the IPO. CEO and Co-founder of Kopi Kenangan, Edward Tirtanata, said the company was in the process of opening new overseas outlets.
Robust market, improvement are fundamentals for investment: Northstar's Patrick Walujo
Northstar’s Co-founder and Managing Partner Patrick Walujo said private equity (PE) companies would need to focus on fundamentals to grab early-stage opportunities in Indonesia due to its vast favorable demographics and macroeconomics indicators as well as robust market.
AC Ventures empowers startups through ESG
Venture capital firm AC Ventures has empowered startups through the ESG (environment, social and governance) framework and the European Union-compliant systems, giving a baseline strategy to grow promising opportunities in the long term.
Housing loan startup helps millennials own their dream house
Indira Shadrina and her friends kicked off IDEAL in 2021, which is a property technology startup that helps Indonesian young people to purchase houses through responsible lending. Indonesian millennials could only afford to purchase houses located far from the city center due to the constant increase of property price.
Abundant business opportunities in Natuna Islands face challenges
China and Indonesia have been in a stand-off over the waters around Indonesia’s Natuna Islands, which is part of the South China Sea, for quite some time now. In the most recent incident, Chinese diplomats requested Indonesia to stop drilling at an oil and gas block in the area.