By Aastha Maheshwari
The investment has been made through Patamar Capital’s women SME-focused impact fund.
The firm, an early backer of Indonesian unicorn Tokopedia, has also invested in fintech firm Amartha and B2B marketplace Ralali.
The island-wide roll-out is part of its continued beta phase for Singapore, which started in November.
A recent report suggested that Singapore-headquartered Grab has acquired a stake in OVO, which is owned by Indonesian conglomerate Lippo Group.
The company said the fresh funding will be used to support its technology development, acquire new talent, and for product expansion in 2019.
BTPN and the Indonesian unit of Tokyo-listed Sumitomo Mitsui Financial Group announced plans to merge this year after the Japanese lender’s chief executive said it was keen to increase its ownership in BTPN from 40%.
The PE firm had earlier raised $150 million for its second fund that was closed in 2017.
It closed a deal in Botika, that develops chatbot with natural language processing, and AI startup Bahasakita.
GIC and Northstar bought a $200 million minority stake in Triputra Agro Persada in 2012 and completed a follow-on investment in 2016.
The deal is part of a new strategic partnership between the two companies, which will see Gorry Gourmet, the company’s food brand, expand its business beyond Greater Jakarta.