Indonesia-based Cermati.com, which claims to make financial information more available, has reportedly closed its Series C.
The round was led by Telkom Indonesia’s investment arm MDI Venture, according to a report from Deal Street Asia. Existing backers of Cermati also joined the round, including Djarum Group.
While the size of the investment round was not disclosed, Deal Street Asia previously reported Cermati was looking to raise $30m for its Series C.
With the fresh capital, the FinTech will grow its team, enhance its product and technology offerings, build partnerships and increase product distribution.
The FinTech claims to leverage technology to make financial information more available and more useful. Its goal is to empower people to take control of their financial situation and save money. Its features include loans, credit cards and insurance.
Cermati co-founder and CEO Andhy Koesnandar told Deal Street Asia, “We look forward to capitalising on MDI’s strong network throughout Telkom, Telkomsel and state-owned enterprise assets to enhance our product capability and assets.
“This investment and synergy will accelerate our vision in leveraging technology to help achieve financial inclusion.”
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