By Ardi Wirdana
Go-Ventures was earlier reported to have backed media startup Kumparan.
So far this year, Fenox has made three investments in Indonesia, the latest being its follow-on contribution in the recently announced $24-million Series B funding round raised by point-of-sale app operator Moka.
By rolling out a cloud computing business in Southeast Asia’s largest market, Amazon will go head to head with its global rival Alibaba whose cloud computing arm, Alibaba Cloud, launched a data centre in Indonesia in March.
Indonesia has 115 conventional and Shariah banks and almost 1,800 rural lenders, catering to the archipelago’s more than 260 million people, data from the Financial Services Authority show.
The wave of predominantly Chinese fintech lenders, who often do not register and employ aggressive debt collection practices, is now alarming regulators.
The startup, which started its operations in August this year, marks the third project incubated within East Ventures after EV Hive and Warung Pintar.
According to the country’s Finance Minister Sri Mulyani Indrawati, the discussion with Amazon has been about the terms related to its planned investment, including matters of tax and regulations.
Rajamobil.com is owned and operated by PT King Car Media, an online media company based in Jakarta.
The Australian lender has made attempts to offload the stake at least since 2013, when new regulations made it more expensive to hold minority overseas investments.
Bukalapak, which counts Singapore’s GIC and China’s Ant Financial among its investors, trails only Alibaba-backed PT Tokopedia, according to iPrice Group.