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Aditya Hadi Pratama · · 1 min readFinantier’s valuation jumps to over $38m in East Ventures co-led seed round
Finantier, an Indonesia-based fintech startup, announced that it has raised a “seven-figure” seed round in US dollars.
More funding details
- Lead investors: Global Founders Capital and East Ventures
- Existing investors: AC Ventures, Y Combinator, Genesia Ventures, and Two Culture Capital
- Other investors: Partech Partners, Taurus Ventures, Saison Capital, GMO Venture Partners, and Future Shape, an investment and advisory firm founded by iPhone co-inventor Tony Fadell
- Stage: Seed funding
More company updates
- The new funding was raised at a post-money valuation of more than 20x of Finantier’s pre-seed valuation in November 2020.
- Data from VentureCap Insights shows that the company received US$200,000 in its pre-seed funding, at US$0.17 per share, with the founders holding 10 million shares. Thus, the company was valued at US$1.9 million in its pre-seed round. With more than 20x growth in valuation, that figure has increased to more than US$38 million to date. Finantier confirmed Tech in Asia’s calculation of the valuation.
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Francesco Simoneschi, co-founder and CEO of London-based TrueLayer, joined Finantier’s board of advisors. TrueLayer is a platform that specializes in open-banking tech.
- Finantier said that since early this year, it has grown its clients and partnership by more than 50% month on month. It has worked with more than 150 companies to date.
- The new funding will be used to scale and enhance the company’s product offerings, continue its expansion in Indonesia and the rest of Southeast Asia, and double its headcount. Finantier currently has 50 employees.
For more coverage of the company, head here. You can also click on the link below to view key details about the company as well as its funding history.
Editing by Collin Furtado and Eileen C. Ang
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