Aya Lin · · 1 min readIn brief: Indonesian digital wallet Ovo acquires P2P lending startup Taralite
- Indonesian e-wallet Ovo is speeding up its push into online lending by acquiring local P2P lending startup Taralite, one of the first fintech startups in the country.
- By adding Taralite’s online lending features, Ovo can extend loans and credits to shoppers and merchants in its ecosystem.
- Backed by Lippo Group, Ovo is integrated into Grab and Tokopedia, two of Indonesia’s major digital platforms.
- Taralite’s last round of external financing was announced in 2017, when it got US$6.3 million from Japan’s SBI Holdings.
Source: KrAsia
Editing by Eileen C. Ang
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