Komunal Secures US$8.5 Mln from East Ventures

By Editorial Team 18/01/2023
Fintech
Summary

Indonesian fintech Komunal managed to raise US$8.5 million, or around Rp 132 billion, in a funding round led by East Ventures. AlphaTrio Sustainable Technology Fund, Skystar Capital, Sovereign's Capital, Ozora, and Gobi Partners were other participating investors.

Komunal CEO Hendry Lieviant revealed the company's plan to use the funds to boost financial inclusion and strengthen Indonesia's neo-rural bank ecosystem, especially outside Jakarta, Bogor, Depok, Tangerang, and Bekasi (Jabodetabek). "This year, we hope that Komunal services can be more beneficial, especially for users and partners of rural banks [BPR] outside Java and Bali," Hendry explained in a press statement on Tuesday.

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