AwanTunai

Firms like Investree and KoinWorks are dealing with default and fraud cases, respectively, but users are still borrowing.

The funding is led by Accial Capital with contributions from various investors.

The Indonesian fintech firm provides loans to grocery suppliers and traders.

In The Top Up this week, we look at the tycoon behind Binance’s Malaysia foray and how Singapore’s StashAway is targeting high-net-worth individuals.

We take a look at the resignation of Grab Vietnam’s managing director, and a strategic partnership between Indonesia’s Gojek and Vietnam’s MoMo.

Last year, AwanTunai said that it had helped more than 8,000 merchants purchase inventories and apply for loans.

Accial Capital and Bank OCBC NISP have also extended their debt facilities of more than US$45 million to the fintech startup.

Nadiem Makarim has become the country’s education minister, while other former Gojek execs are striking out on their own.

Insignia Venture Partners is one of the lead investors.