SoftBank-backed Investment App Ajaib Nets $90M In Round Led By Robinhood Investor Ajaib, an Indonesia-based investment platform, announced that it has raised US$65 million in an extended series A round led by Ribbit Capital. This is in addition to the US$25 million first close of the round in January.
Kopi Kenangan’s Founders Launch Angel Fund For Indonesian Startups The founders of Indonesian coffee chain company Kopi Kenangan have launched an angel investment vehicle. Apart from Edward Tirtanata, James Prananto, and Cynthia Chaerunnisa, who established the cafe startup in 2017, investors in the Kenangan Fund include “a couple of friends,” the company spokesperson said.
Gojek-backed Insurtech Startup PasarPolis Secures $5M From World Bank’s IFC Indonesian insurtech firm PasarPolis said it has received US$5 million in equity financing from the International Finance Corporation (IFC), a part of the World Bank Group that focuses on accelerating financial inclusion in developing countries.
Indonesian B2B Marketplace Ula Raises $20M Series A Led By Quona, And B Capital Group Jakarta-based wholesale e-commerce marketplace Ula has raised $20 million in a Series A round led by existing investor Quona Capital and B Capital Group. Existing investors Sequoia Capital and Lightspeed also participated in the fundraising.
Indonesia's Aquaculture Startup eFishery Appoints Former GoPay CEO As New Commissioner Indonesian aquaculture startup eFishery has roped in former GoPay CEO Aldi Haryopratomo as its commissioner, per an announcement. Haryopratomo joined GoPay in December 2017 and has helmed it to become one of the largest e-wallets in the archipelago.
Gojek In Advanced Discussions With Tokopedia Over $18B Merger, IPO Indonesia’s ride-hailing and payments giant Gojek is in advanced discussions about merging with local e-commerce pioneer PT Tokopedia, ahead of a planned initial public offering of the combined entity, according to people with knowledge of the matter.