Fintech firm Fairbanc bags funding from ADB Ventures for Indonesia expansion

Photo by Anggit Rizkianto on Unsplash

ADB Ventures, the venture investing arm of the Asian Development Bank (ADB), has approved an equity investment of up to $2 million in Silicon Valley-based fintech startup Fairbanc to fuel its Indonesia expansion.

Founded in San Francisco, Fairbanc offers a business-to-business (B2B) mobile loans and payments platform for micro, small and medium enterprises (MSMEs) in emerging markets. It primarily provides working capital credit to unbanked and women-operated FMCG micro-merchants for inventory purchases.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter