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.