Superbank-Genesis to Offer Funding New Scheme for Startups

By Editorial Team 04/09/2023
startup business
Summary

PT Super Bank Indonesia (Superbank) collaborated with Singapore-based venture capital Genesis Alternative Ventures (Genesis) to provide US$39,38 million in startup funding.

Superbank President Director Tigor Siahaan said the funding would target startups with a minimum dilution of stakeholders’ equity.

“Funding access plays important roles in developing innovative businesses,” Tigor said on Sept 1, 2023.

The Superbank-Genesis funding has been targeting startups that are currently on the B or C Series of funding.

Genesis Co-Founder and Managing Partner Jeremy Loh said Indonesia possessed great potential for technology-based businesses, thanks to a huge number of digital talents. 

“Genesis and Superbank have committed to support more Indonesian startups, in the middle of venture capital funding decreasing trend up to 60 percent from year to year,” said Loh.

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