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Y Combinator backed Indonesian Fintech Finantier to Expand Operations into Emerging Markets
Indonesia-based Fintech firm
Y Combinator.
Finantier will be joining Y Combinator’s Winter 2021 funding cycle, which is scheduled to begin in January 2021. Finantier is planning to expand its business operations into emerging markets outside the Southeast Asia region via its partnership with the accelerator.
The Fintech firm allows companies or businesses to build and provide financial services to customers by offering accounts aggregation, income and ID verification, recurring repayments and subscription services. Finantier leverages machine learning to analyze raw data and then offer insights from several different sources.
Singapore-based open finance startup Finantier gets backing from Y Combinator
Being “underbanked” doesn’t mean that someone lacks access to financial services. Instead, it often means they don’t have traditional bank accounts or credit cards. But in markets like Indonesia, many still use digital wallets or e-commerce platforms, creating alternative sources of user data that can help them secure working capital and other financial tools. Finantier, a Singapore-based open finance startup, wants to streamline that data with a single API that gives financial services access to user data, with their consent. It also includes machine-learning-based analytics to enable credit scoring and KYC verifications.