Indonesian startup Jukir acquires fintech firm Wallezz Finansial

Photo: Wallezz website

Jakarta-headquartered startup Jukir has acquired local fintech firm Wallezz Finansial Teknologi for an undisclosed sum.

The acquisition is expected to strengthen Jukir’s electronic payment service, the startup said in a statement. Following the deal, Wallezz’ system will be integrated into Jukir’s, who will call the service as JuPay.

Jukir presents itself as a ‘parking revolution concept’. The app allows users to find and reserve parking spaces, pay fees, purchase tickets, phone credits, and pre-paid electricity vouchers.

Collaborating with local city governments, Jukir is set to modernise parking attendance in various cities in Indonesia like Bogor, Jakarta, Bandung, Tangerang, Pangkal Pinang, Bekasi and Palembang.

“This is the first step of a cashless digital world for us,” Budi Hartono, CEO of Jukir, stated.

Wallezz founder and CEO Christian Linting said: “This is a strategic partnership for us, and a way for us to contribute to the financial inclusion in this country. Along with our other partners, such as bersihkan.id – a trash e-banking app – we want to help realizing Indonesian smart cities.”

Investments into Indonesia’s fintech industry is expected to reach $8 billion by 2018. In 2008, fintech investment stood at roughly $900 million, touching $3 billion in 2013.

Southeast Asia’s largest market Indonesia has been witnessing an emergence of a number of fintech companies such as peer to peer lending company Modalku, mobile recharge platform Sepulsa, e-commerce financing company Kredivo, online micro-lending company UangTeman, Pinjam, Investree, and many others.

Early this year, Grab acquired O2O and payment startup Kudo for $100 million to catch up with the technology, and opportunities, enabled by fintech.

Also Read:

Eight Indonesian fintech startups officially registered under OJK

Indonesia regulator expects fintech firms to double to 250 by year-end

Grab Indonesia to develop mobile payments, partner with fintech companies: Ridzki Kramadibrata

Indonesia regulator expects fintech firms to double to 250 by year-end

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. 
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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.