Indonesian payment platform Flip scores $48m in Series B funding

From left to right: Rafi Putra Arriyan (Co-Founder & Chief Executive Officer Flip), Luqman Sungkar (Co-Founder & Chief Technology Officer Flip), Ginanjar Ibnu Solikhin (Co-Founder Flip), and Gita Prihanto (Chief Operating Officer Flip).

Indonesian consumer payment platform Flip announced raising $48 million in a Series B funding round co-anchored by Sequoia Capital India, Insight Partners, and Insignia Ventures.

The fintech startup, considered a pioneer in the free-of-charge digital bank transfer game, said it will use the fresh funding to accelerate its business expansion and beef up its operations in Indonesia. It also plans to invest further in technology and expand its workforce.

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