Tech in Asia — It’s a good time to be a fintech startup. Especially if your tech promises to simplify the complex process of investing. After closing a pre-series A round in November last year, Singaporean startup Call Levels today announced a strategic investment from Indonesia’s Lippo Group. The amount was not disclosed.
Indonesia’s family-owned conglomerate Lippo Group announced today that Hadi Wenas, co-CEO of ecommerce service provider aCommerce in Indonesia, will join MatahariMall as CEO. The news comes not long after Lippo Group representative John Riady went on record saying that MatahariMall has a team of ecommerce superstars ready to race Lazada Indonesia for the title of the largest business-to-consumer ecommerce firm in the archipelago.
Indonesia’s Lippo Group announced today the launch of its massive ecommerce venture MatahariMall – the online version of one of the nation’s biggest mid-priced department stores. Lippo Group is one of the archipelago’s largest and richest conglomerates, and has invested US$500 million into the initiative. Lippo plans to spend the money over the next two to three years in hopes that the site can create US$1 billion in sales.