Bukalapak buddies up for Indonesia’s digibank race

More: Gojek expands into enemy territory, and it’s raining funding in SEA [Read from your browser]( Daily Newsletter Hello {NAME} , "Synergy" is what corporate folk (and financial journalists) use to refer to the benefits of collaboration between companies. I recall beads of sweat rolling down my forehead the first time I came across the fancy word in my early days as a reporter. Fret not, though! As [per Investopedia]( synergy stands for the idea that the value and performance of two companies combined will be greater than the sum of each on their own. In other words, if the situation permits, working together is better than working alone. These synergies form a key line of reasoning behind Bukalapak’s [US$83 million deal to buy]( a 12.05% stake in CT Corp’s Allo Bank. “The impact on Bukalapak doesn’t seem to be direct. It’s more about synergies to leverage multiple other relationships, especially for the sake of Mitra Bukalapak transactions,” says Aldi Adrian Hartanto, vice president of investments at MDI Ventures. Bukalapak’s arrival in Indonesia’s digital banking scene has only taken the competition up a notch. In our premium story pick today, we bring you the low-down on what drove Bukalapak’s entry into the fiercely competitive digibank arena. Also, if you’re an entrepreneur looking for funding, [fill out this form]( to get your company featured on our list of fundraising startups. -- Shravanth  ---------------------------------------------------------------  THE BIG STORY [Behind Bukalapak’s entry into Indonesia’s digital banking race]( Allo Bank, which Bukalapak acquired in January 2022, is backed by a conglomerate with a strong retail presence. ---------------------------------------------------------------  TRENDING NEWS [KKR leads SG proptech unicorn’s $180m round]( Livspace will set aside around US$40 million and US$50 million to fuel its expansion into Vietnam, Indonesia, Malaysia, and Thailand. [This fintech firm’s fight with its founder may end in a courtroom]( After alleged boardroom battles and claims of fraud, BharatPe’s board and its co-founder Ashneer Grover could be embroiled in a legal tussle. [Carousell may acquire 🇸🇬 real estate marketplace firm]( Carousell could look to diversify its portfolio with the new acquisition. [SoftBank’s Q3 net profit plummets 97%]( With regulatory hurdles still present, SoftBank will also halt its sale of Arm to Nvidia Corp., a deal that was valued at up to US$80 billion. [Revolut to invest $45m in India, hire 300 employees]( The global fintech company is building a product and engineering hub in India, its first outside of the UK. [Blockchain deals boost SG fintech funding to highest in 5 years: report]( Fintech funding in Singapore reached nearly US$4 billion in 2021 as investments in the crypto and blockchain space continued to rise, noted a KPMG report. --------------------------------------------------------------- EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - *Event* [[Workshop] What NFTs mean to startups in Southeast Asia]( on February 10th Curious about NFTs and want to expand your insights about this phenomenon? On February 10, catch our workshop with David Shin, head of global adoption at the Klaytn Foundation, to learn more about the digital asset! Get a single ticket to attend this workshop or subscribe to Tech in Asia Core at just US$0.55/day for unlimited access to all our workshops, signature conferences, and premium content. - [AWS SaaS Forum]( on March 8th Join the AWS SaaS Forum on March 8 to uncover opportunities and insights on SaaS trends, outlook for 2022 and how to build your business playbook. Attendance is complimentary. --------------------------------------------------------------- WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Business Intelligence Analyst]( at PT Xapiens Teknologi Indonesia Tangerang, Indonesia - [Project Manager (Tech)]( at Kulina Yogyakarta, Indonesia - [NGO Coordinator Sumbar]( at Kitabisa.com Padang, Indonesia - [Senior Associate Career Coach]( at PT Samala Serasi Unggul Jakarta, Indonesia - [Performance Test Engineer Associate]( at TIXid Jakarta, Indonesia - [Account Manager]( at PT. YUKK Kreasi Indonesia Tangerang, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](  ---------------------------------------------------------------  Copyright © 2022 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894