PREMIUMIndonesian start-ups enjoy wave of funding, investment despite sluggish economy

first_imgLOG INDon’t have an account? Register here Topics : Eisya A. EloksariThe Jakarta Post/JakartaThe COVID-19 pandemic has put the global economy on a gloomy trajectory with small and established businesses alike hard hit. The government has slashed its GDP growth projection to between 0.4 and 2.3 percent this year, significantly lower than its initial estimate of 5.3 percent.However, a number of funding deals were announced throughout March and April despite the sluggish economy. Most of the deals were early or seed funding, signaling opportunities for start-ups to scale-up.Below are some of the start-up funding, venture capital investments and cohort programs announced during the two-month period.Peer-to-peer (P2P) lendingP2P lending platform Modalku announced it received US$40 million through its series C funding in late April.The cofounder & CEO of the lending platform, Reynold Wijaya, said the funds would … Forgot Password ? Facebook Linkedin Log in with your social account Indonesia investment start-up venture-capital Modalku Investree Kargo Silicon-Valley Mandiri-Capital-Indonesia Googlelast_img

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