Finantier, an Indonesian open finance API platform, has raised an undisclosed 7-figure sum in a seed funding round led by Global Founders Capital and East Ventures.
The round was oversubscribed, and funds were raised at a post-money valuation of more than 20 times its pre-seed valuation in November 2020.
Participating in the round were Future Shape, an investment and advisory firm founded by Tony Fadell, the co-inventor of the iPhone, Partech Partners, Taurus Ventures, Saison Capital, and GMO VenturePartners, among other high profile global fintech investors.
Existing investors AC Ventures, Y Combinator, Genesia Ventures, Two Culture Capital and prominent angels also participated. Finantier was part of Y Combinator’s Winter 2021 batch.
Finantier also welcomed Francesco Simoneschi, Co-Founder and CEO of Truelayer as an advisor to strengthen its board.
The fresh funds will go towards scaling and enhancing Finantier’s product offerings, continue its expansion within Indonesia and the region, and double the size of its team.
Since the beginning of the year, the company has expanded its team by more than 5 times to 50 employees, while growing its clients and partnerships by over 50 percent month-on-month.
Edwin Kusuma
“Finantier democratises access to financial services by allowing the millions of unbanked – from roadside warungs (SMEs) to gig economy workers – to benefit from their digital data footprint.
By unlocking access to basic financial services for the unbanked, we are enabling them and their loved ones to lead better lives,”
said Edwin Kusuma, Co-founder and COO of Finantier.
Featured image: Finantier Team
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Source: https://fintechnews.sg/51819/indonesia/open-finance-startup-finantier-raises-undisclosed-7-figure-seed-funding/
