East Ventures Continues Bull Run in Indonesia: Invests in Inapay and Jajalindo

The East Ventures team

Investments in Indonesia show no signs of stopping for East Ventures. The early stage venture capital firm just recently announced two portfolio additions at Jakarta Ventures Night 2012. The new startups are Jajalindo and Inapay. Such announcements are becoming sort of a tradition for East Ventures. It had also announced its investments in NightSpade and TeknoUp at last year’s Jakarta Ventures Night.

Jajalindo: Jajalindo or Jalan-Jalan (meaning ‘walk walk’) Indonesia provides users with interesting activities or places to go in Jakarta. Jajalindo is aiming to provide contextual hyperlocation search. They are also providing badges for activities and will go into native mobile apps pretty soon.

Inapay: Inapay is a “Payment Intermediary Service” startup. Online payment in Indonesia is still a huge problem because the majority of the population is still using bank transfer. Not all credit cards works in Indonesia. And as such, there’s huge potential in the market that Inapay intends to capitalize upon by providing a standardized, safe, and seamless escrow service experience in the country.

With these two new portfolio additions and six start-ups graduating from the East Ventures Alpha accelerator program, there are now a total of 20 start-ups for the firm in Indonesia and Singapore. It has also launched East Ventures Angels Network which we can hopefully find out more details about it soon.

[Full disclosure: I’m an East Ventures’ Associate and Penn Olson is one of East Ventures’ portfolio startups.]