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November 10, 2020Blog Posts

Grab leads series B round of up to $100m in Indonesian fintech LinkAja

TechInAsia

Indonesia’s fintech app LinkAja announced that it has raised up to US$100 million in a series B round led by Southeast Asian super app Grab.

Telkomsel, BRI Ventura, and Mandiri Capital Indonesia also participated in the round.

Commencing its commercial operations in June last year, LinkAja provides e-payment services to the middle-class segment and to micro, small, and medium enterprises (MSMEs) in Indonesia.

It currently has more than 58 million registered users, with over 80% of them coming from Indonesia’s Tier 2 and Tier 3 cities, according to a statement.

Amid Covid-19, the company claims it saw a 3x growth in both its gross transaction value and transaction numbers in Q3 2020 compared with the same period last year.

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