Boosting My Capital: Now Six Indonesian Startups Invest in Banks

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Reza Pahlevi 28/04/2022 13:40 WIB

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Modalku, a leading Indonesian startup, has acquired a stake in a local bank. Modalku now owns 10% of Bank Index Selindo.

Indonesian Startups with Bank Share Ownership (April 28, 2022)

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Indonesian Startups with Bank Share Ownership (April 28, 2022)

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The Indonesian fintech startup Modalku announced its investment in PT Bank Index Selindo on Tuesday, April 26, 2022. This action adds to the growing number of Indonesian startups investing in banks.

Modalku made the investment in Bank Index alongside used car marketplace Carro. Modalku itself holds a 10% stake in Bank Index.

A few days earlier, Xendit announced its investment in PT Bank Sahabat Sampoerna, with a 14.96% ownership stake.

Besides these two startups, Bukalapak holds an 11.9% stake in Allo Bank, while GoTo, through GoPay, owns a 21.4% stake in Bank Jago.

Ajaib recently became the controlling entity of Bank Bumi Arta with a 40% stake. This move by Ajaib follows Kredivo's acquisition of a 40% stake in Bank Bisnis Indonesia.

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."

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Boosting My Capital: Now Six Indonesian Startups Invest in Banks

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