Indonesia Digest: Investree buys stake in Mbiz; UMG Idealab backs Legalku

Indonesian P2P firm Investree has acquired a stake in B2B procurement startup Mbiz while legal startup Legalku has secured unspecified funding from UMG Idealab, the corporate venture capital arm of Myanmar’s UMG Group.

P2P firm Investree acquires stake in Lippo-backed Mbiz

Investree, a peer-to-peer startup that facilitates loans from lenders to mostly SME borrowers, has reportedly acquired a major stake in B2B procurement platform Mbiz to further build its infrastructure to support SMEs.

Financial details of the deal were not immediately disclosed. A report by the DailySocial said Investree co-founder Adrian Gunadi will sit as a board observer at Lippo Group-backed Mbiz following the acquisition.

Investree now joins Tokyo Century Corporation as an external investor in Mbiz. Tokyo Century invested in the company’s Series A round in 2017.

Gunadi was quoted as saying that the acquisition will allow Investree to offer not only financial service but also SME-focused solution. Investree has facilitated more than $45.48 million in loans since May 2016 and claims a market share of around 30 per cent in an industry of around 32 players as of February 2018.

Legalku secures funding from Myanmar’s UMG Idealab

Jakarta-headquartered legal-tech startup Legalku has secured an undisclosed amount of funding in its seed round led by UMG Idealab, the venture capital arm of diversified conglomerate UMG Myanmar, according to a statement.

Legalku, founded in December 2017, provides an on-demand legal consultation service for MSMEs and a SaaS platform for legal practitioners. The company said its platform allows law office, notary firms, and corporate legal teams to manage their operations.

The startup’s services are available in four cities in Indonesia with plans to expand to 10 more cities in the country and eventually offer its services to other countries in Southeast 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.

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.