Mapan, an Indonesia-based leading startup focused on eliminating barriers to financial access for the masses in the country, has announced it has closed a successful Series A round of US$15 million.
The round was co-led by Patamar Capital and PT Astra Digital Internasional, a subsidiary of PT Astra International Tbk (Astra), with participation from Indonesian giants BRI Ventures, SMDV, Blibli, Prasetia Dwidharma, and global venture capital firms Flourish Ventures and 500 Global.
The company intends to use the funds to expand operations and its business reach.
Company: Mapan
Raised: $15.0 M
Round: Series A
Funding Month: June 2022
Lead Investors: Patamar Capital and PT Astra Digital Internasional
Additional Investors: BRI Ventures, SMDV, Blibli, Prasetia Dwidharma, Flourish Ventures and 500 Global
Company Website: https://mapan.id/
Software Category: Financial
About the Company: Established in 2009, Mapan (PT Ruma) has a mission to increase the Indonesian people's access, life quality, and income through technology. Through 1 application, Mitra Usaha Mapan can access various products and services to earn income and start a business. Mapan has reached more than 3 million members who have joined the Mapan Arisan, Mapan Pulsa, and Mapan Mart services spread across almost all districts and cities in Java, Bali, Sumatra, and Sulawesi. As we advance, Mapan has the vision to be able to reach all parts of Indonesia to help millions of Indonesian families to be able to achieve a better quality of life. Users can now access Mapan products and services through the Mapan application.
Source: https://www.prnewswire.com/news-releases/mapan-secures-us15-million-from-global-and-indonesian-investors-in-series-a-funding-aimed-at-improving-financial-access-for-indonesians-301576753.html