Hangry scale with US$10.5M 🍔, StraitsX boosts Web3 payments 🌐, Xendit heads to Latin America 🌎
Dear subscriber,
This week’s roundup highlights major movements shaping Indonesia’s tech and financial landscape. From Hangry’s $10.5M funding round and StraitsX’s Web3 payment expansion, to Danantara’s new CTO and Xendit’s push into Latin America, the ecosystem is buzzing with scale and ambition. Superbank’s profitability and Telkom’s massive spin-off show how digital transformation is reshaping traditional sectors. Meanwhile, May Mobility and Grab bring autonomous transport to Southeast Asia, Singapore leads the IPO race, and Lendable fuels inclusive fintech growth. We also unpack new research from LPEM FEB UI revealing crypto’s Rp 7,000 trillion contribution to Indonesia’s economy—hinting at what’s next for regulated digital finance in the region.
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🚀 What’s New
Hangry Raises US$10.5 Million in Follow-up Funding
F&B technology startup Hangry has secured US$10.5 million in new funding led by Alpha JWC Ventures, marking one of the largest rounds in Indonesia’s foodtech space this year. The capital will be used to expand Hangry’s multi-brand restaurant ecosystem, improve digital operations, and enhance customer experience. Hangry’s hybrid model, combining physical outlets with strong online delivery channels, continues to attract investor confidence. The company also plans to leverage AI and data analytics to optimize menu innovation and supply chains. This funding milestone signals continued investor optimism in Indonesia’s tech-driven culinary market.
StraitsX Secures US$22.5 Million from UQPay and Docomo
Singapore-based StraitsX received a US$22.5 million investment from UQPay and Japan’s Docomo to boost its Web3 payment network across Asia. The deal aims to integrate blockchain-based financial infrastructure with existing digital payment systems, enabling faster and more secure cross-border transactions. StraitsX will use the funds to enhance interoperability between traditional finance and decentralized technologies. This strategic move positions StraitsX as a key connector in Asia’s growing digital asset economy. It also reflects increasing institutional confidence in regulated blockchain payment solutions.
Profile: Sigit Puji Santosa, CTO of Danantara
Danantara has appointed Sigit Puji Santosa as its new Chief Technology Officer to lead innovation in financial technology and data infrastructure. With extensive experience in scalable systems and fintech product development, Sigit brings technical depth and leadership vision to the company’s next growth phase. Under his direction, Danantara plans to enhance its digital financial ecosystem and expand its range of financial products. His appointment marks a commitment to strengthening technological excellence and operational agility. Sigit’s expertise is expected to accelerate Danantara’s mission to bridge technology with inclusive financial access in Indonesia.
Xendit Eyes Latin America Expansion
Indonesian unicorn Xendit is testing its payment solutions in Latin America, marking its first major expansion outside Asia. The move represents a bold step in Xendit’s ambition to become a global payment leader, building on its strong foundation in Southeast Asia. The company aims to replicate its successful model by targeting emerging markets with growing digital economies. This expansion underscores Xendit’s confidence in its scalable technology and regional insights. As it enters new territories, Xendit is set to redefine how cross-border payments empower businesses worldwide.
Superbank Hits IDR80.9 Billion Profit and 5 Million Customers
Superbank achieved a significant milestone by reporting IDR80.9 billion in profit and surpassing five million customers this quarter. The growth is driven by its focus on accessible digital banking services and user-friendly financial products. With strong backing from major stakeholders, Superbank continues to strengthen its position as a challenger in Indonesia’s banking landscape. The bank’s digital-first strategy has improved financial inclusion for underserved communities. These results demonstrate how innovation and customer trust can fuel profitability in the fintech sector.
Telkom Spin-offs Fiber Optic Business to TIF
Telkom Indonesia completed the spin-off of its fiber optic infrastructure business into Telkom Infra Fiber (TIF), valued at IDR357.8 trillion. The strategic restructuring aims to streamline operations and enhance focus on network efficiency and asset optimization. By creating TIF, Telkom seeks to attract more investors and foster strategic collaborations in telecommunications infrastructure. The spin-off also supports Indonesia’s broader digital transformation agenda through improved connectivity. This move marks a new era for Telkom’s operational agility and investment potential.
✨ What’s Exciting
May Mobility Expands to Southeast Asia with Grab Investment
Autonomous vehicle startup May Mobility announced its entry into Southeast Asia through a strategic partnership with Grab. The investment will allow both companies to explore self-driving solutions for public transport and last-mile logistics. This collaboration supports regional goals for sustainable mobility and smart city development. By leveraging Grab’s regional presence, May Mobility can accelerate its deployment of safe and efficient autonomous transport. The partnership highlights growing interest in integrating AI-driven mobility into Southeast Asia’s urban infrastructure.
Singapore Leads Southeast Asia’s IPO Market in Q3
Singapore emerged as Southeast Asia’s top IPO market in the third quarter, supported by strong investor sentiment and favorable regulatory conditions. According to EY, the city-state attracted the highest capital inflows from public listings in the region. The robust activity underscores Singapore’s role as a regional financial hub amid volatile global markets. Its transparent governance and advanced financial systems continue to attract companies seeking stable listing environments. This trend further reinforces Singapore’s leadership in driving regional capital market growth.
Lendable Launches New Debt Financing Funds
Fintech investment platform Lendable has introduced new debt financing funds aimed at supporting inclusive finance startups in emerging markets. The funds will provide much-needed liquidity to fintech companies addressing credit gaps and economic inequality. Lendable’s approach combines financial returns with measurable social impact, aligning with growing investor interest in ESG-focused investments. The initiative targets high-potential firms in Africa, Asia, and Latin America that promote financial inclusion. This move underscores Lendable’s commitment to empowering underserved markets through responsible capital allocation.
🎓 Empowering Teachers, Inspiring Students: STEM and Digital Literacy Take Center Stage
More than 100 educators joined the “STEM for Future Leaders” seminar at Maranatha Christian University, Bandung, featuring Prof. Erik Barendsen from Radboud University, Netherlands. The event explored how digital literacy and computational thinking can transform classroom learning in the AI era. Prof. Erik emphasized the teacher’s role in cultivating critical and creative thinking, while speakers like Rama Mamuaya, Ivan Ahda, and Dr. Erwani Merry Sartika shared practical frameworks for everyday STEM teaching. The seminar also launched the Educators Club – Bandung Chapter, a new community for teachers to collaborate and exchange best practices. A new MoU between Maranatha University and the Marvin Foundation capped the event, marking a long-term partnership to advance digital education across Indonesia.
🔮 What’s Next
A new study by LPEM FEB UI reveals that Indonesia’s legal crypto platforms have generated an estimated IDR7,004 trillion in economic contribution and created over 33,000 jobs. This finding highlights the growing importance of regulated digital asset platforms in the national economy. Beyond direct financial impact, the sector also stimulates innovation in blockchain applications and financial literacy. The research underscores how legal clarity and institutional adoption can drive sustainable growth in the crypto industry. As policymakers continue refining regulations, the balance between innovation and consumer protection remains key.
Looking ahead, Indonesia is likely to see stronger integration between crypto and traditional finance systems. New frameworks for taxation, licensing, and cross-border transactions are expected to improve market stability and investor confidence. Financial institutions may increasingly adopt blockchain for settlements and digital identity verification. This evolution could open opportunities for local startups to collaborate with global fintech players. In the coming years, Indonesia could emerge as a regional leader in compliant, innovation-driven crypto ecosystems.