In today’s briefing:
- Panin Financial – Vanishing Growth, Falling ROE, Despite Likely Rebalancing Beneficiary
- Indonesian Fleet-Tracking Startup TransTRACK Bags US$2.1M Funding
- Finfra Tops up with $1m to Enable Embedded Lending for Indonesian Firms
Panin Financial – Vanishing Growth, Falling ROE, Despite Likely Rebalancing Beneficiary
- PNLF has seen its asset growth ratchet downward, running at near 12-year lows at +2% YoY
- Phases of ROE decline are apparent, from 12-13%, then to 9%, and now to 5-6%
- At least, there is a rebound in profit growth in FY22, after dismal 3 years
Indonesian Fleet-Tracking Startup TransTRACK Bags US$2.1M Funding
- Indonesia-based fleet-tracking startup TransTRACK has secured US$2.1 million in a pre-Series A funding round.
- Ortus Star, Cocoon Capital, and YCAB Ventures led the funding round. Goldbell Investment, NP Consulting, Damson Capital, and unnamed angel investors participated.
- TransTRACK plans to use the fresh funds to expand operations to 100 cities in Indonesia and other Southeast Asian countries, including Malaysia, Singapore, Thailand, Cambodia, and Vietnam, providing an end-to-end supply chain solution for the business players in the region.
Finfra Tops up with $1m to Enable Embedded Lending for Indonesian Firms
- Since 2015, Indonesia’s digital economy has grown 10x, reaching US$77 billion in gross merchandise value. However, credit penetration remains low for individuals and businesses alike, with only 3% of Indonesians having a credit card.
- Access to credit would allow businesses to boost customer adoption, among other things, and Indonesia-based fintech firm Finfra is looking to fill this niche.
- The startup has raised US$1 million to help make this happen.
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