Indonesia Digest: OJK licence for Julo, others; BukuWarung joins Y Combinator

BukuWarung

Indonesian accounting app for small enterprises Bukuwarung has been selected for Y Combinator’s summer batch while eight fintech lending startups have secured licences from the Financial Services Authority (OJK).

BukuWarung joins Y Combinator programme

Indonesian accounting app for small enterprises BukuWarung has been selected for the summer batch of Silicon Valley venture builder Y Combinator’s programme, according to people close to the development.

The startup is said to have bagged funding from the venture builder. The company has not confirmed the development to DealStreetAsia.

We have also learnt that the startup is in talks to raise $5-10 million in its Series A round, according to sources.

BukuWarung had raised an undisclosed sum in its seed funding round led by East Ventures, AC Ventures, Golden Gate Ventures and Tanglin Venture Partners. Indonesian tycoon Michael Sampoerna had also joined the round with strategic angel investors from Grab, Gojek, Flipkart, PayPal, Xendit, Rapyd, Alterra, ZEN Rooms and others.

BukuWarung claims that millions of credit and cash transactions have been recorded on its app by over 250,000 MSMEs across more than 500 cities and small towns in Indonesia.

Eight fintech lending firms secure OJK licence

Indonesian fintech startups Pinjam Modal, Taralite, Danarupiah, Pinjamwinwin, Julo, Indodana, Awantunai, and Alami have secured licences from the Financial Services Authority (OJK), the Indonesian Fintech Lenders Association (AFPI) announced on Tuesday.

AFPI chairman Adrian Gunadi, who also served as Investree CEO, said that the total number of fintech firms who have secured licences for lending operations now amounted to 33.

AFPI has 161 fintech lending members under the association. Other fintech lenders that secured OJK licence include Investree, KoinWorks and Modalku.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.