Making personal finance easy
- Let’s start the week off with some funding news: 500-backed Finku, an Indonesia-based personal finance app, raised US$2.8M in a seed round led by B Capital Group, Global Founders Capital, and Trihill Capital.
- Launched just last year by Co-founders Reinaldo Tendean, Shyam Kalairajah, and Shylla Estee, the startup has much bigger goals than just being an expense tracker — it aims to be the first responsible lender in Indonesia. How? It will combine low-interest rates, transparent fees, and a suite of personal finance tools to help users manage their finances and access credit responsibly.
- The company said, “To build a more financially resilient and inclusive society, people must have the access, capabilities, and independence to manage their finances regardless of their income backgrounds.”
- “With the latest funding, we will deepen our presence in Indonesia by scaling our offerings and expanding our teams to empower more Indonesians,” Finku revealed.
- Congratulations to the Finku team!
- Read more in Tech in Asia.
A season for giving
- As the festivities of Eid carry on, we want to remember those who are less fortunate. In the season’s spirit of giving back, 500-backed e-grocery company HappyFresh collaborated with celebrity chef Sherson Lian and charity group Cahaya Ampang.
- Together, close to US$7,000 worth of warm meals and necessities such as food supplies and toiletries were distributed to low-income communities affected by the recent floods.
- Want to contribute? Search for “Charity Box” on the HappyFresh app and select “Bakul Berkat” before checkout.
- Learn more here.
Changemaking beyond Silicon Valley
- Who’s influential, innovative, and trailblazing? According to Rest of the World’s inaugural RoW100: Global Tech’s Changemakers, CEO & Founding Partner of 500 Global, Christine Tsai and Hooi Ling Tan, Co-founder of 500-backed Grab!
- Self-described as an introverted leader and “mama bear” for the startups she mentors, Christine believes that early-stage startups need more than just a check. So, 500 Global created a robust ecosystem of mentors and operators from more than 20 countries.
- Today, the venture capital firm invests in more than 2,600 ventures around the world, including Indonesia’s Bukalapak, Malaysia’s Carsome, and of course, Singapore’s Grab.
- “There used to be this perception in 2020 that deal flow outside of Silicon Valley is second tier,” Christine said earlier this year. “And now I don’t think anyone would say that.”
- As for Hooi Ling, she has come a long way since Harvard and McKinsey, and we are excited to see what’s next for her.
- Congratulations Christine and Hooi Ling!
- Get the full list here.
