Ardi Wirdana

Correspondent, Indonesia

Alibaba-backed hospitality tech firm Shiji acquires US startup IcePortal

Shiji had in early 2018 secured an investment of $486 million from Chinese internet giant Alibaba in exchange for a 38% stake in a subsidiary.

Indonesia’s trader platform Stockbit acquires mutual fund app Bibit

Prior to the acquisition, which took place late last year, Bibit was an OJK-licensed tech-based mutual fund seller.

SoftBank Ventures backs $4.4m round for South Korean book club operator Trevari

The funding round, which saw SoftBank contributing 4.5 billion won ($4 million), is the first raised by the South Korean startup.

Indonesia’s newest listed startup DIVA eyes more investments this year

The company raised over Rp 630 billion ($45 million) in its November 2018 IPO and followed it up with a 30% stake in startup Pawoon.

Dubai-based Badwa Capital launches $100m real estate investment arm

The fund will be deployed through sale-leaseback, built-to-suit, and other types of transactions.

Indonesian used car startup bags $10m Series A

The latest funding will help the company further expand into key Indonesian cities, launch new verticals, enhance sales and marketing efforts, and hire new staff.

Indonesian smart city app Qlue closes Series A with MDI Ventures’ backing

Qlue CEO Rama Raditya said the funding from MDI was “mostly strategic” and will be used to hire talent in the field of artificial intelligence.

Warburg-backed Indonesian real estate platform NWP Retail raises $200m

The funding comes from new investors Korean Teachers’ Credit Union (KTCU) and the CITIC Securities One-Belt-One-Road (CSOBOR) Fund, and Warburg Pincus.

General Atlantic appoints Ashish Saboo to lead Indonesia operations

Before joining General Atlantic, Saboo was a Business Development Director at CT CORPORA for over 12 years.

Indonesian P2P lender Akseleran secures $2.5m in ongoing Series A round

The fresh funding will help the company scale up its operations and will also be used to disburse loans to the country’s SMEs.