Seven Indonesian Startups Invest in Banks: New Members Join the Fold

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Reza Pahlevi 12/05/2022 16:30 WIB

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Investree's investment in Amar Bank makes it the seventh startup to invest in a bank.

Indonesian Startups with Bank Share Ownership (May 12, 2022)

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Indonesian Startups with Bank Share Ownership (May 12, 2022)

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The Indonesian fintech startup Investree officially became a shareholder of PT Bank Amar Indonesia Tbk on Tuesday (May 10, 2022). Investree now owns 18.4% of Bank Amar's shares.

The startup purchased the shares from Bank Amar's controlling shareholder, Tolaram Group. Tolaram Group's ownership has decreased from 57.5% to 39.1%.

Investree is the seventh Indonesian startup to invest in a local bank. Previously, Modalku had just purchased a 10% stake in PT Bank Index Selindo in April 2022.

Gojek, through Gopay, became the first Indonesian startup to invest in a bank. The company, now GoTo, owns 21.4% of Bank Jago's shares.

Startup Ajaib even became the controlling entity of Bank Bumi Arta. This move by Ajaib has been followed by Kredivo, which controls Bank Bisnis, with share ownership as shown in the graph.

(Also Read: Investment in Southeast Asian Fintech Startups Grew by 195% in 2021)

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."