Superbank and Genesis Alternative Ventures Launch IDR 600 Billion Financing Solution for Innovative Indonesian Startups
PT Super Bank Indonesia (Superbank) and Genesis Alternative Ventures (Genesis), Singapore-based venture lender, have launched a financing solution, with both entities committing up to IDR 600 billion ($39.38 million) to back innovative Indonesian startups. The financing solution combines the principles of conventional bank credit and venture capital investing to target Indonesian technology startups while extending working capital to technology startups with minimum dilution of shareholder equity, the duo said in a statement on Thursday.
Superbank, the Indonesia-based digital bank backed by Grab, Singtel, and Emtek Group, is partnering with Singapore-based Genesis Alternative Ventures to provide US$40 million worth of financing for Indonesian startups. In a joint statement, the companies said that the financing will combine conventional bank credit and venture capital investment, while minimizing equity dilution for shareholders. They will also primarily target firms at the series B and series C stages.
Indonesian digital lender Superbank has partnered with venture lender Genesis Alternative Ventures (Genesis) to launch a 600-billion-rupiah ($40 million) financing facility to support innovative local startups. The financing solution combines the principles of conventional bank credit and venture capital investing to target Indonesian technology startups, according to the announcement. The platform also seeks to extend working capital to tech startups with minimum shareholder equity dilution, focusing on venture-backed high-growth startups in the archipelago, particularly those at the Series B or C stages.
Berita startup hari ini mengenai PT Super Bank Indonesia (Superbank) telah menjalin kemitraan dengan Genesis Alternative Ventures (Genesis) untuk meluncurkan fasilitas pembiayaan senilai Rp 600 miliar bagi perusahaan rintisan atau startup di Indonesia. Pembiayaan ini merupakan gabungan antara kredit bank konvensional dan investasi modal ventura. Dengan fokus pada startup teknologi, pembiayaan ini juga menyediakan modal kerja dengan pengurangan minimal terhadap ekuitas pemegang saham. Pembiayaan ini akan ditargetkan untuk startup pada tahap pendanaan Seri B dan Seri C.
Superbank, the Indonesia-based digital bank backed by Grab, Singtel, and Emtek Group, joined hands with alternative lender Genesis Alternative Ventures to launch an IDR 600 billion (US$40 million) financing solution to back innovative local startups.
The solution combines the principles of conventional bank credit and VC investing in targeting technology startups while extending working capital to them with a minimum dilution of shareholder equity.
The focus will be Series B or C-stage companies.
PT Super Bank Indonesia dan Genesis Alternative Ventures menjalin kerja sama pembiayaan senilai Rp 600 miliar kepada startup Indonesia yang melakukan inovasi. Direktur Utama Superbank Tigor M Siahaan mengungkapkan, Indonesia merupakan negara dengan ekonomi digital terbesar di Asia Tenggara. Pertumbuhan ekonomi digital diproyeksi hingga delapan kali lipat dari Rp 632 triliun pada 2020 menjadi Rp 4.531 triliun pada 2030. “Indonesia memiliki potensi dan peluang untuk semakin mengembangkan startup lokal dan ekosistemnya. Kami bekerja sama dengan Genesis menghadirkan sumber pembiayaan bagi startup Indonesia yang inovatif,” ungkap Tigor dikutip Investor Dialy, Jumat (1/9/2023).
PT Super Bank Indonesia (Superbank) dan Genesis Alternative Ventures (Genesis) berkolaborasi memberikan dukungan perusahaan rintisan (startup) di Tanah Air. Kedua entitas ini sepakat memberikan dukungan pembiayaan hingga Rp600 miliar. Solusi pembiayaan ini mengkombinasikan prinsip kredit bank konvensional dan investasi modal ventura untuk menarget startup teknologi Indonesia. Termasuk untuk menyediakan modal kerja bagi startup teknologi dengan dilusi minimal terhadap ekuitas pemegang saham.
PT Super Bank Indonesia (Superbank) and Genesis Alternative Ventures (Genesis) have launched a financing solution worth US$39.3 million, or equal to Rp600 billion, to back the startup industry in Indonesia. The financing solution combines the principle of conventional bank credit and venture capital investing, targeted at Indonesia’s technology-based startups, while extending working capital to technology startups with a minimum dilution of shareholder equity. The collaboration between these entities emphasizes their strategic plans to empower Indonesia’s startups, specifically those at the Series B and C funding stage, to realize their further enhancement.
PT Super Bank Indonesia (Superbank) collaborated with Singapore-based venture capital Genesis Alternative Ventures (Genesis) to provide US$39,38 million in startup funding. Superbank President Director Tigor Siahaan said the funding would target startups with a minimum dilution of stakeholders’ equity. “Funding access plays important roles in developing innovative businesses,” Tigor said on Sept 1, 2023. The Superbank-Genesis funding has been targeting startups that are currently on the B or C Series of funding. Genesis Co-Founder and Managing Partner Jeremy Loh said Indonesia possessed great potential for technology-based businesses, thanks to a huge number of digital talents. “Genesis and Superbank have committed to support more Indonesian startups, in the middle of venture capital funding decreasing trend up to 60 percent from year to year,” said Loh.
