Heaptalk, Jakarta — UpBanx, an Indonesia-based Financial Technology platform, announced has seized funding in a pre-seed round of USD 5.2 million (1 USD equals Rp.14,284). This investment will be allocated to accelerate its product establishment and business enhancement by leveraging its investor’s network.
The Founder and CEO of UpBanx, Wafa Taftazani, revealed in a statement, “We established UpBanx as an integrated platform to reach economy for content creators. We will provide financial solutions and facilitate seamless collaboration between the content creators and brands. On the other hand, we will become a platform that launches a Web3 for them to espouse fan engagement by implementing innovative ways,”
This fintech platform acquired funding from several parties, such as Y Combinator, Alpha JWC Ventures, Alto Partners Multi-Family Office, Number Capital, UBI Capital, Raffi Ahmad and Nagita Slavina as top creators with 100m+ followers, Collab Asia as a creator network, and Digital Rantai Maya (DRM).
On the other hand, several angel investors also participated in this funding round, including Hendra Kwik as the Founder of FAZZ Financial Group, Hendoko Kwik as the CEO of Modal Rakyat, Budi Handoko as the CEO of Shipper, and Arya Setiadharma as the CEO of Prasetia Dwidharma, Oliver Jung as an investor of Airbnb, Nubank, Revolut, Brex, WeWork, Robinhood, and BukuWarung, Tianwei Liu as the CEO of Xfers, and Jerry Soer as the Vice-President of Collab Asia.
“It is an honor for us to welcome Y Combinator, Alpha JWC, Alto Partners, Oliver Jung, Raffi Ahmad and Nagita Slavina, and other parties involved in our consortium of proponents. They have excellent expertise, resources, and network to perform an essential role in supporting our ambitious roadmap for the upcoming years,” said Wafa in a statement.
This investment has made the fintech platform established in June 2021 to be the fastest startup in Indonesia that achieves centaur level. As a result, Upbanx can reach a valuation of USD 120 million only during one month after its official debut and six months of its operation. (SFM)
