Finantier raises 7-figure USD for its Open Finance solution

Wednesday 16 June 2021 11:56 CET | News

Indonesia-based startup Finantier has raised 7-figure seed capital in a new funding round led by Global Founders Capital (GFC) and East Ventures (EV), according to e27.

Existing investors AC Ventures, Y Combinator, Genesia Ventures, Two Culture Capital, besides new investors such as Future Shape, Partech Partners, Taurus Ventures, Saison Capital, and GMO VenturePartners, also participated. The round was raised at more than 20x the valuation the company received for its pre-seed funding in November 2020, as per a company statement.

Finantier intends to use the money to scale and enhance its product offerings within Indonesia, expand to the Philippines, Thailand, and Vietnam, and double its team size. Finantier initially wanted to build an Open Banking platform but later decided to switch the idea to build an Open Finance platform as Open Banking would exclude a large amount of the unbanked population in emerging markets.

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Keywords: Finantier, Open Banking, Open Finance
Countries: Indonesia