LinkAja, a mobile wallet backed by four banks and Indonesia’s largest mobile operator—all state-owned enterprises, has raised money from an outside investor for the first time. Its choice, notably, is not Indonesian.
Grab, the Singapore-based ride-hailing firm valued at US$15 billion, has won the bid to lead LinkAja’s US$100 million Series A round, which was announced announced Grab Press Centre LinkAja Announces Strategic Investment from Grab and Partnership to Accelerate Financial Inclusion Read more last week.