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.

AUTHOR

Jon Russell

Jon Russell is Southeast Asia editor for The Ken based in Bangkok. Originally from the UK, Jon moved to Thailand in 2008. He’s passionate about telling thoughtful business stories, and tracking the impact of the internet in his adopted home of Southeast Asia.

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