Singapore’s Grab Leads $100M Series B Investment Round in Indonesia Based FinTech LinkAja

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LinkAja, Indonesian FinTech secured $100 million a series B funding round led by Singapore super app Grab, with participation from Telkomsel, BRI Ventura Investama and Mandiri Capital Indonesia.

The new funding will be utilised to advance LinkAja’s reach to the middle class and to reach micro, small, and medium enterprises (MSMEs) in Indonesia. LinkAja is the result of an alliance of the top State-Owned Enterprises (BUMN) in Indonesia.

LinkAja is among the only FinTech startups created by BUMN. Over the course of the coronavirus pandemic, the startup said it has experienced three times the growth in gross transaction value and transaction numbers in the third quarter of this year compared with the same period in 2019.

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