For Kredivo, it is its largest deal with an offshore lender, while for PFG, it represents its first deal in Indonesia, and one of its largest in the A
Grab recently made headlines when it said it is setting aside $2 billion to expand its operations in Indonesia.
The startup is looking to expand its footprint, operations and distribution infrastructure to eight major cities.
IPOs & Markets
CVC may seek to exit from its nearly four-year-old investment although it may not sell its entire stake in one shot.
Others participating in the round include new investors EDBI, Pavilion Capital and Jungle Ventures.
This year alone, 18 VC firms have announced investments in five early-stage B2B startups in Indonesia’s burgeoning trucking space.
Ideosource Entertainment is a company set up by venture capital firm Ideosource to tap into opportunities in Indonesia’s film industry.
New players include Anterin, KlikGo, Bonceng Asia Trans, BitCar Indonesia and Vietnam-based FastGo, among others.
Policy & Regulations
TranSwap has obtained a license from Bank Indonesia to operate a remittance service fund.
Ginting Jaya will use the IPO proceeds to expand its rig rental services to support oil and gas exploitation activities.
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