TranSwap has secured a license from Indonesia’s central bank to operate in the country while Taiwan-based MOX has unveiled the startups under its new batch.
TranSwap obtains Bank Indonesia licence
Cross-border payments platform TranSwap on Thursday announced that it has obtained a license from Bank Indonesia to operate a remittance service fund.
Launched in 2017, a Singapore-based TranSwap offers a secure, cost-effective and convenient cross border solution for businesses in Singapore and Hong Kong.
The license will enable the company to provide services for outbound cross-border payments in Indonesia, which is the company’s third Asian location, after Singapore and Hong Kong.
TranSwap also plans to expand in the archipelago and launch inter-country fund transfers for Indonesian businesses, including SMEs and e-commerce companies.
Taiwan’s MOX unveils seventh cohort
Taiwan-based Mobile Only Accelerator or MOX has unveiled its seventh cohort of 10 seed-stage startups across emerging markets. The startups in the seventh batch are from India, Hong Kong, Thailand, and Indonesia.
The new batch, which also includes profitable global players, are startups focused on fintech, healthcare, education, social commerce, and entertainment.
Each of the startups will secure $100,000 to $120,000 in funding.
The startups that joined in the programme are: India’s Whatscut Pro (mobile editing app), Podd (a credit trust platform for merchants), PlayTooMe (allows individuals to hold their concert), Vidyakul (online learning platform), Woovly (community-based sharing platform), Phable (AI-based platform for doctors for patient treatment), Zotezo (health, beauty, fitness platform); Hong Kong’s Chekk (platform for banks, insurance companies to manage their clients), Thailand’s Natbay (luxury and fashion platform), Indonesia’s PinjamWinWin (loan provider for individuals and business.
MOX is operated by the Silicon Valley-based venture capital firm SOSV with $650 million assets under management.