This Fintech Startup Raised $27.5 Million To Bring Indonesian SMEs Online [Forbes]
Mitsubishi UFJ Financial Group, Inc. (MUFG)
Company Research
Source: Forbes
A man wearing an AwanTunai jacket smiles in front of a local storefront. J akarta-based fintech startup AwanTunai–featured on the 2022 Forbes Asia 100 to Watch list –raised $27.5 million in a Series B funding round to power its digitalization drive in Indonesia. The round was led by Norwegian investment fund Norfund; MUFG Innovation Partners, the innovation arm of Japan's largest bank by assets; and OP Finnfund Global Impact Fund I, the global impact fund of Finland's OP Financial Group and Finnish state-owned Finnfund. Participating in the round were Krungsri Finnovate, the fintech arm of Thailand's Bank of Ayudhya, and existing investors IFC, OCBC Indonesia (OCBC NISP) and Singapore-based VC firm Insignia Ventures Partners. The round, which was oversubscribed by $2.5 million, brought AwanTunai's total equity raised to $51 million, alongside $47 million in debt financing. The startup declined to disclose its current valuation, but claims it's Ebitda positive. “We're impres
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MUFG
Sec Filings
- 4/17/24 - Form 6-K
- 4/9/24 - Form 424B2
- 4/9/24 - Form FWP
- MUFG's page on the SEC website