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Digiasia Bios to raise US$20M in debt funding

Indonesia: Mastercard-backed Indonesian fintech startup Digiasia Bios is raising up to US$20 million in debt funding to provide lending support to local warungs (mom-pop stores) in Indonesia. This update was first reported by Dealstreet Asia.

Aside from that, the startup intends to offer a minority stake to partners as part of its equity fundraising plan as part of its effort to offer “something that can add value,” according to co-founder Alexandra Rusli.

Digiasia Bios was founded in 2017, as a payments technology platform that is geared towards bringing financial inclusion in the country.

Recently, Digiasia raised an undisclosed round of Series B funding from Mastercard. In addition to providing capital, Mastercard is providing the startup with strategic assistance to strengthen its suite of financial services.

Source
e27

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