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Xfers's Crypto Platform StraitsX Rebrands, Hits SGD 2 Billion Mark in Transactions

Xfers's Digital Assets Platform StraitsX Rebrands, Hits SGD 2 Billion in Transactions

Indonesian fintech startup PAYFAZZ secures e-money license

Indonesian fintech startup PAYFAZZ secures e-money license July 12, 2021 Indonesian fintech startup PAYFAZZ on Monday announced that it has secured an e-money license from Bank Indonesia, paving the way for the launch of its e-money services in the country. According to the announcement, the central bank approved the e-money license to PT Cashfazz Teknologi Nusantara, a subsidiary of Fazz Financial Group, the holding company formed after PAYFAZZ invested into its Singaporean counterpart Xfers early this year. PAYFAZZ is the largest financial services platform for rural Indonesia to receive the e-money license, which is considered a lucrative license owned by top fintech players and big banks in the country.

Indonesia Digest: Fazz Financial invests in Modal Rakyat; Cermati raises Series C

Indonesia-based Cermati has raised an undisclosed Series C funding while Modal Rakyat has secured an investment from Fazz Financial Group.

Y Combinator's long-distance relationship with SE Asia

Famed US accelerator Y Combinator has now graduated over 40 startups from Southeast Asia YC’s network is unparalleled, helping startups crack the tricky world of investors and learn from each other Its validation helped Ajaib raise US$90 million in March and Shipper land US$63 million in April But local options, like Sequoia Surge, are more relevant and offer better terms. YC’s appeal is waning for some Want to read a free 200 word summary?Register or Login When Hendra Kwik was looking for funding for his nascent fintech startup, the Indonesian entrepreneur struggled to get past the first meeting with venture capitalists. As he watched other overseas-educated founders raise capital, Kwik felt his lack of an Ivy League diploma made him uninvestable.