Amalan, a seven-year-old Indonesian debt-management platform, has acquired two other companies in the financial services sector, The Ken has learnt. The two companies are Cekaja, a financial comparison service, and Praxis, a developer of educational games that teach financial literacy.
The acquisitions were cash-and-shares deals, Amalan CEO Arne Hartmann told The Ken, adding that it made sense because each company was at an inflection point in its life cycle. He declined to share further details like the size of the deals.
Despite being from the same sector, this is still an unusual mash-up of three Southeast Asian startups.