Indonesia’s Bank Central Asia bets on fintech with $15m fund

A Bank Central Asia building in Bandung, Indonesia. Photo credit: Everyone Sinks Starco.

Indonesia’s Bank Central Asia (BCA) joins the fintech rush with a dedicated US$15 million venture fund.

Nikkei Asian Review on Saturday said:

BCA is to own 100% of a new company, Central Capital Ventura, according to a stock exchange filing on Friday. CCV wants to invest in and collaborate with fintech companies “that will support BCA’s financial service ecosystem as well as that of our subsidiaries.”

BCA is one of Indonesia’s largest private banks by assets, though state-owned Bank Mandiri and Bank Rakyat Indonesia are bigger.

Bank Mandiri a year ago launched its own US$37 million fintech investment arm, Mandiri Capital.

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from Tech in Asia https://www.techinasia.com/bca-usd15m-fntech-fund
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