1. Startup

Moduit Secures 65 Billion Rupiah Pre Series A Funding to Expand Wealth Management Product

Funding was led by the RMH Singapore consortium, consisting of Reciprocus Financial Services Pte Ltd, Walter de Oude and Helicap

Investment fintech startup Moduit announced $4.5 million (over 65 billion Rupiah) pre-series A round led by Singapore's Reciprocus Moduit Holding (RMH). RMH is a consortium consisting of Reciprocus Financial Services Pte Ltd, insurtech entrepreneur Walter de Oude, and Helicap. In this round, participated also Djarum Group's subsidiary, PT Alto Network.

Moduit is the first portfolio of the RMH consortium with the ambition to develop the fintech business in Southeast Asia, especially in Indonesia.

In fact, the fundraising plan has been disclosed since October 2019 through DailySocial's last interview with the company. Nevertheless, with the right momentum amidst this pandemic, the company managed to boost optimism to pursue growth. The series A fundraising is said to be held next year.

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