Finfra, an Indonesian startup that provides the tech infrastructure for online businesses that want to offer embedded finance products, has raised $1 million in new funding. The round included participation from DSX Ventures, Seedstars International Ventures, Cento Ventures, Fintech Nation, FirstPick, BADideas Fund and Hustle Fund.
The startup’s new funding will be used on product development and to grow Finfra’s engineering, data and finance teams. Finfra grew out of consumer financial services provider Danabijak, which is profitable and will continue operating as a subsidiary of Finfra.
Finfra is industry-agnostic, but it focuses on digital supply chain platforms, agritech companies and merchant e-commerce platforms, said co-founder and CEO Markus Prommik. It provides a loan management system so businesses can offer credit to clie...
