Unicorns

Asia’s fintech funding in 2023 might be lagging its US and European counterparts, but interest is strong in leveraging artificial intelligence and regtech throughout the region.

The listing will be the Indonesian bourse’s third largest, after those of Bukalapak and GoTo. But Blibli may not enjoy the same “hype” as its predecessors, given the instability of tech sector share prices, experts opined. Both firms have seen their share prices drop significantly since IPO.

Vietnam’s start-up ecosystem often draws comparison with that of Indonesia and China some years back, but investors in the market face different opportunities and exit options, say VC experts.

With the government pushing reform across its domestic capital controls, India seems to be riding high amid capital market uncertainty. Will 2022 see it become the destination of choice for international investment?

The Indonesian unicorn forged ahead with its listing despite a weak stock markets, inflationary uncertainty and the war in Ukraine.

The latest investment, part of a $137 million Series B round, brings CredAvenue’s valuation to $1.3 billion and propels it to unicorn status.

Teddy Oetomo speaks to FinanceAsia about executing Indonesia’s biggest IPO to date, how Bukalapak is working to advance financial inclusion, the outlook for 2022 and the company’s philosophy of cultivating value through collaboration.

The highly anticipated move should spur new listings of domestic tech companies, experts believe.

Experts are divided on whether the recent success of Bukalapak could prompt GoTo to pursue a standalone Indonesia listing.