In­done­sian firm helps fund SEA fin­tech

Southeast Asia Globe - - Agenda -

In­done­sian ven­ture cap­i­tal firm Al­pha JWC Ven­tures is part­ner­ing with PayPal Hold­ings to sup­port fi­nan­cial-tech­nol­ogy star­tups in South­east Asia.

The VC firm will pro­vide up to $5 mil­lion in fund­ing for PayPal In­cu­ba­tor, a pro­gram that pro­vides star­tups with coach­ing and men­tor­ing from PayPal ex­ec­u­tives and sub­ject mat­ter ex­perts. Com­pa­nies in the pro­gram are also en­rolled in fi­nance and tech­nol­ogy cour­ses led by ex­perts in the fin­tech in­dus­try and pro­vided ac­cess to PayPal’s net­work and VC con­nec­tions. The Al­pha JWC Ven­tures fund­ing is ear­marked specif­i­cally for com­pa­nies from In­done­sia, Sin­ga­pore, Viet­nam, the Philip­pines and Thai­land.

In order to qual­ify, com­pa­nies must be fin­tech prod­uct or tech­nol­ogy star­tups, have a min­i­mum vi­able prod­uct and early trial with cus­tomers. Se­nior ex­ec­u­tives from both com­pa­nies in­ter­view and se­lect the par­tic­i­pat­ing star­tups. Ex­am­ples of com­pa­nies that have been in the pro­gramme in­clude one that helps busi­nesses with short-term fund­ing and an­other that fights money laun­der­ing and ter­ror­ism fund­ing with AI.

Al­pha JWC is cur­rently rais­ing an­other fund to con­tinue in­vest­ing in fin­tech and con­sumer busi­nesses in South­east Asia.

•PayPal to join forces with In­done­sian VC firm

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