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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. ....
Magic Fund closes $30m second vehicle, backs four Asian startups in last three months Photo: Alexander Schimmeck / Unsplash Premium Magic Fund, a global venture fund established by a collective of founders-turned-investors, has closed its second vehicle at around $30 million, its Southeast Asia general partner Hendra Kwik told DealStreetAsia. Besides other geographies, the fund will target startups in South and Southeast Asia, said Hendra adding that Magic Fund recently made four investments in Asia in the last three months . Contact us for corporate subscriptions at [email protected]. Sign up for our newsletter - The Daily Brief Opt out of receiving The Daily Brief in your inbox everyday ....
MAGIC Fund raises $30M to scale its global founders-backing-founders fund – TechCrunch techcrunch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techcrunch.com Daily Mail and Mail on Sunday newspapers.
PT. Bank Rakyat Indonesia Agroniaga (BRI Agro) has inked a deal with local agent-based fintech company Payfazz. Using the API (application programming interface) of its signature digital lending app Pinang, BRI Agro’s digital savings and lending solutions will be channeled to 250,000-plus Payfazz agents as end-users. In turn, agents will also be able to relay the same offerings to their collective 10 million monthly active customers across rural Indonesia. The deal will instantly see BRI Agro’s digital savings accounts become more ubiquitous to underserved Indonesians in rural areas. Subscribe to our Monthly Fintech News Indonesia Newsletter Payfazz agents will be able to offer Pinang’s low-interest rates to customers instantaneously, without needing to communicate with BRI Agro. ....