MDI Ventures said to be close to investing $20m in Djarum Group’s Cermati

Photo: Cermati’s Facebook page

MDI Ventures, the venture arm of state-owned telecom firm Telkom Indonesia, is finalising an investment into Djarum Group-backed fintech platform, Cermati, according to multiple sources aware of the development.

The financial product marketplace Cermati is in the process of raising $30 million as part of its Series C funding. MDI Ventures and its Centauri Fund, a joint fund of MDI Ventures and South Korean KB Investment, will invest $20 million in the company while Cermati’s controlling shareholder Djarum Group will put in the rest.  

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter