Drew & Napier acted successfully for Indonesian Fintech startup, Payfazz in raising US$53 million Series B funding

21 Jul 2020

Drew & Napier acted successfully for Indonesian fintech startup Payfazz in its US$53 million (approximately S$77 million) Series B fundraising. The round was led by B Capital and Insignia Ventures Partners, and joined by Payfazz’s existing investors Tiger Global Management, Y Combinator (of which Payfazz is an alumnus), ACE & Company and Quiet Capital. New backers, such as BRI Ventures, which is the venture arm of the biggest bank in Indonesia, also participated.

Payfazz is an Indonesian Fintech startup which provides financial services to the underbanked and unbanked population, especially in rural areas of Indonesia, through its network of agents. It was founded in 2016 by Hendra Kwik, Jefriyanto, and Ricky Winata.

Advising Payfazz are Director Chua Tju Liang, and Legal Executive Ernest Tan.

You may read more about the transaction in Forbes Indonesia online here and Deal Street Asia online here.