ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Bukalapak and Grab to invest in Indonesian lender

Participation in local rights issue underscores tech giants' interest in finance

Bukalapak and other Southeast Asian tech companies see promise in Indonesia's digital banking sector. (Source photos by Reuters and screenshot from Allo Bank's YouTube page) 

JAKARTA -- A host of leading tech companies in Southeast Asia are set to invest in an Indonesian lender, marking the latest entry of major players from that sector into the country's banking industry.

Indonesian tech giant Bukalapak will subscribe to a planned 4.8 trillion rupiah ($335 million) rights issue by local lender Allo Bank, the bank said in a statement to the Indonesia Stock Exchange on Monday.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more