Tokopedia said to be discarding own e-wallet in favour of OVO partnership


By turning to OVO for a solution, Tokopedia is following Grab, which partnered with OVO in December last year, after failing to secure an e-money licence for GrabPay. 

Singapore PE Kendall Court invests $55m in Indonesia’s Mandaya Medical

Kendall Court Managing Partner Chris Chia talks about how the PE firm, which manages equity-linked and mezzanine investments across Southeast Asia, has moved away from the fundraising model.

SG’s Hyflux to sell majority stake to Indonesia’s Salim Group, Medco

Salim Group and Medco Group agreed to acquire 60% of Hyflux for S$400 million ($290 million), a move that gives it a lifeline for its struggling business.

Indonesian coffee chain Kopi Kenangan snags $8m seed funding from Alpha JWC

The startup will deploy proceeds from the round on store expansion, R&D and mobile app development.

Bribery probe throws Lippo Group’s massive SE Asia project into limbo

The nation’s Corruption Eradication Commission conducted a search on 10 locations on Wednesday including Lippo deputy chairman James Riady’s home and the house of a senior executive who was arrested.

Thai market poses unique challenges, says Go-Jek’s head of international expansion

The Indonesian ride-hailing giant is up against strong local habits and customs around transportation in Thailand, Go-Jek’s Vice President for International Expansion, Andrew Murphy, said.

Gobi Partners leads $4.8m funding for SEA freelancing platform Fastwork

Other investors in the round included Vickers Venture Partners, LINE Ventures and Partech Partners. The latest financing brings Fastwork’s total external funding to $5.5 million.

GREE Ventures backs seed round for Indonesian fintech startup CROWDE

CROWDE will use the capital to accelerate the development of its platform directed at Indonesia’s agriculture sector.

Gobi Partners launches $10m early-stage fund for Indonesia investments

Gobi’s Indonesia fund will be managed in parallel with its $10-million early-stage Philippine fund launched last week in partnership with local VC firm Core Capital.

Bukalapak acquihires second-hand goods marketplace Prelo

The move is Bukalapak’s first publicly known major acquisition of another company or its assets since its last funding round in late 2017 that valued the company at over $1 billion.