01Fintech, a PE firm founded by former Ant Group executive, receives investment from Sinar Mas Financial Services and establishes strategic partnership with the Indonesian conglomerate to support its digital transformation and fintech investments
SINGAPORE, April 4, 2023 /PRNewswire/ — 01Fintech, a growth-stage private equity (PE) firm specializing in financial technology in Southeast Asiatoday announced a strategic partnership with Sinar Mas Financial Services (known locally in Indonesia as Sinar Mas Multiartha Tbk, or SMMA). SMMA is a subsidiary of Sinar Mas Group, one of the largest conglomerates in Indonesia, and offers a wide range of financial services such as life and non-life insurance, securities, banking, capital markets as well as Web3 and fintech services to over 25 million customers daily. The strategic investment and partnership sees 01Fintech leveraging its market insight, investment experience, technical and operational expertise and proven unicorn building experience to transform and operationalize SMMA’s fintech vision and ambition.
The collaboration with 01Fintech is the latest in a series of announcements by SMMA to strengthen its fintech capabilities within the group and to the larger Indonesia economy. With 01Fintech founder and managing partner Kenny Man’s established experience building many fintech unicorns in the region, and his deep advisory expertise from board roles across 10 companies, the announcement underscores the scope of SMMA’s fintech vision, and will leverage the 01Fintech team’s specialization to to drive synergies between the business units and various fintech investments across the entire Sinar Mas Group ecosystem.
“We are thrilled to partner with Sinar Mas Financial Services as we shape the future of fintech Southeast Asia. Together, we are committed to helping SMMA achieve its digital transformation goals, and ultimately bring greater synergy to Sinar Mas Group through this digitization exercise. Our work to support and nurture promising fintech companies in the region will continue, now with additional funding from the SMMA. We look forward to driving fintech growth in Indonesia and to be part of the new wave of innovative financial solutions that will transform the industry,” said Kenny Manmanaging partner in 01Fintech.
A comment on the collaboration, Pak Indra WidjajaPresidential Commissioner, SMMA said, “01Fintech’s team has a proven track record of identifying and nurturing promising fintech companies in Southeast Asia, and we are confident that their expertise and guidance will play a crucial role in building our fintech ecosystem for more seamless collaboration and better consolidation of resources within the group. We are excited about the potential of this partnership to bring about positive changes in the financial industry and for the larger ones Indonesia digital ecosystem, and look forward to serving our customers better Indonesia and beyond.”
01Fintech differs from traditional private equity firms that simply provide capital to growth-stage companies. With a commitment to expanding access to financial services for all and leveraging the extensive global LP network that includes prominent fintech executives, family offices and conglomerates in Asia Pacific, 01Fintech goes beyond financing and offers regular strategic, operational and technical guidance to portfolio companies and partners who want to adopt financial technology. This approach is driven by the team’s passion to support the growth and success of the businesses they work with and is underpinned by their deep experience in nurturing fintech companies. the founder, Kenny Man, has successfully built many fintech unicorns in the past and has previously served on several boards of fintech companies. In addition, his team has extensive technology and product experience preparing fintechs to become unicorns, underscoring their ability to guide companies towards achieving their full potential.
About 01Fintech
01Fintech is a Fintech private equity company in the growth phase Asia (ex-China) with the main emphasis on Southeast Asia. The company strongly believes that technology can play a decisive role in offering financial services to underbanked and underserved communities in the region. Leverage its extensive global LP network that includes prominent CEOs, family offices and conglomerates i Asia Pacificand together with entrepreneurs and business founders, 01Fintech aims to make a difference in people’s lives and make digital financial services accessible to everyone.
For more information, please visit http://www.01fintech.com.
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SOURCE 01Fintech
