Indonesia Digest: Bukalapak partners Tanamduit; Grab launches more services

In the latest moves by startup unicorns in Indonesia, online marketplace company Bukalapak has partnered with online investment platform Tanamduit to introduce mutual fund products to first-time retail investors while Grab has introduced two new services to support micro-entrepreneurs in Indonesia.

Bukalapak partners Tanamduit to diversify into MF products

E-commerce unicorn Bukalapak has teamed up with online investment platform Tanamduit to introduce mutual fund products to first-time retail investors.

The partnership will see the addition of more asset management firms and investment products into Bukalapak’s BukaReksa feature, which currently provides over 20 mutual fund products for all users.

New local asset management firms added onto the platform are Bahana TCW Investment Management, Batavia Prosperindo Asset Management and Sucorinvest Asset Management. The five new investment products, meanwhile, ranges from equity to fixed-income funds.

The move is the latest move by Bukalapak to branch out into various fintech services. The company, which started off as a pure e-commerce company in 2010, has launched a number of different online financial services including loans, credit and insurance, as well as mutual fund and gold investments.

In September, the company launched an e-wallet called BukaDana in collaboration with Emtek and Ant Financial-backed digital wallet firm DANA. This was followed by the launch of payment installment feature called BukaCicil in October.

Grab Indonesia launches two new services to support small businesses

Grab Indonesia has introduced two new services to serve the demands of micro-entrepreneurs in the country.

GrabExpress Car, the new service, enables the delivery of more goods with greater capacity to up to five-destinations in one booking.

The service is currently available in Jakarta and surrounding cities of Bogor, Depok, Tangerang and Bekasi.

Grab has also introduced GrabExpress Nalangin, a cash on delivery service for GrabExpress Bike, that allows micro-entrepreneurs to send their products to buyers while the cost will be paid by the driver partners first.

Over the last few months, Grab has been aggressive in its launch of new services and features in Indonesia as it continues to compete with local ride-hailing unicorn Go-Jek. Last month, Grab launched two new car-hailing services, GrabCar Plus and Rent a Grab Car, in Indonesia.

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