Mastercard to lead Series B round for Indonesia's Digiasia Bios

MASTERCARD will be leading Indonesia fintech holding company Digiasia Bios' Series B funding round, according to a joint press statement on Wednesday.

The payments technology giant will provide "capital and strategic assistance as Digiasia looks to strengthen its suite of financial services that expand the ways individuals and MSMEs (micro, small and medium enterprises) can take part in the digital economy".

In addition to Mastercard's financial investment, Digiasia will also be able to leverage Mastercard's banking and business networks, and cybersecurity expertise.

The startup is affiliated with Indonesian fintech companies such as e-wallet and payment platform KasPro, peer-to-peer lender KreditPro, and remittance company RemitPro.

Digiasia has existing partnerships with companies including iRMA, Metrodata, Western Union and Mandiri Syariah.