By Ardi Wirdana
The investment sees NFC Indonesia and M Cash Integrasi acquiring 30 per cent and 5 per cent respectively in DMS
The company, which connects sellers and buyers looking for deals at wholesale prices, is close to finalising the round.
This is the largest funding round raised by an Indonesia-based fintech firm this year.
IFC has proposed to extend a debt financing package of up to $50 million to support the development of a 275 megawatt (MW) combined cycle gas turbine power plant in Riau Province, Sumatera, Indonesia.
Indonesia currently has four unicorns in ride-hailing startup Go-Jek, hospitality startup Traveloka and e-commerce companies Tokopedia and Bukalapak.
Pertamina wants to divest to help maintain its long-term financial condition, and to avoid risking too much in any one particular asset class.
A Jakarta court ruled in favor of Tjokrosaputro in November 2017, ordering the U.S firm to return shares and pay $22.07 million in compensation.
It’s tempting to think of the Southeast Asian internet market as a battle between “China” and “Silicon Valley” but the front lines are much fuzzier.
Bizzy’s backers include Sinar Mas Digital Ventures, Ardent Capital and Maloekoe Ventures.
This comes a day after Freeport-McMoRan Inc said it would sell a majority stake in the world’s second-biggest copper mine to the Indonesian state-owned miner via a series of complex deals worth $3.85 billion.