Indonesia’s fintech investments bucks global trend, hits record high in H1
Payment gateway Xendit raised $300m in its Series D funding to help push up the numbers.
Fintech investment in Indonesia is expected to rise in 2022, bucking global fintech investment trends that point to a significant fall in funding this year.
Investment value in Indonesia in just the first half of the year has already surpassed the previous year, with $1.8b reported across 51 deals in 2022. In comparison, $1.6b investments were received by Indonesian fintechs for the full year of 2021.
Payment gateway Xendit logged the largest deal in H1, raising $300m for its Series D funding, led by Coatue and Insight Partners.
For the full year, Indonesia’s fintech investments is expected to reach $3.6b, whilst deal activity in the country is expected to increase slightly by 5% reaching 102 deals in 2022.
The growth contrasts that of global fintech funding. Globally, investments dropped 24% from Q1 to Q2.
One market affected by the global trends is Australia, who saw its fintech investments plummet 75% from Q1 to Q2.