Samreen Ahmad · · 1 min readSoftBank’s JV unit buys stake in Indonesian digital lender
ZA Tech, a joint venture between China’s ZhongAn Technologies and SoftBank Vision Fund 1, has become a strategic investor in Aladin Bank, a Sharia lender based in Indonesia.
Photo credit: SoftBank
ZA Tech focuses on exporting insurtech products and solutions to insurers and internet platforms. It has a presence in Japan, Singapore, Thailand, and other Asian markets.
Together, ZA Tech and Aladin Bank aim to provide financial education and planning with affordable insurance products in Indonesia.
Dyota Marsudi, president director of Aladin Bank, said the investment will strengthen the digital bank, “both in terms of capital and various strategic business plans going forward.”
See also: A new digital bank could instill VC faith in Indonesia’s sharia fintech
Editing by Collin Furtado and Eileen C. Ang
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