The first edition of this weekly newsletter highlights top developments and trends across Southeast Asia’s digital economy and ecosystem, without losing sight of the solid links between the online and offline worlds.
Executive Summary
- Bukalapak taking up the reins of finance
- Offline going online
- OVO’s ecosystem is officially open
- Troubled waters in Thailand
Bukalapak taking up the reins of finance
Bukalapak’s acquisition of a stake in digital bank Bank Allo is set to be a key game-changer for the Indonesia-listed e-commerce major as the deal marks its first direct investment into the financial services space.
Prior to the Bank Allo deal, Bukalapak was pursuing partnerships with a host of lenders including StanChart, Bank Mandiri, among others. A direct stake in Bank Allo is likely to give shape to a partnership akin to GoTo-Bank Jago, where both Gojek and Tokopedia are offering account opening through their apps.
Bank Allo is backed by…