Superbank-Genesis to Offer Funding New Scheme for Startups | D-Insights

Written by the Editorial Staff on April 9, 2023

PT Super Bank Indonesia (Superbank) teamed up with Genesis Alternative Ventures, a venture capital firm based in Singapore, to offer a hefty amount of $39.38 million to support startups.

The President Director of Superbank, Tigor Siahaan, stated that the financing would focus on startups while ensuring a minimal decrease in the ownership percentage of stakeholders.

On September 1, 2023, Tigor stated that having the ability to obtain funding is crucial for the growth of inventive enterprises.

The Superbank-Genesis funding has been focusing on supporting startups at the current stage of B or C Series financing.

Jeremy Loh, one of the founders and managing partners of Genesis, expressed his belief that Indonesia holds immense prospects for technology-driven enterprises, owing to its substantial pool of skilled professionals in the digital realm.

"Loh stated that Genesis and Superbank have pledged their support to further promote the growth of Indonesian startups, amidst a significant decline in venture capital funding, which has dropped by as much as 60% annually."

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