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HomeFunding Jakarta-Based Honest Bank Secures $21.5 Million in extended Series B Funding

[FUNDING NEWS] Jakarta-Based Honest Bank Secures $21.5 Million in extended Series B Funding

Based in Singapore, Honest Bank is a financial services business. According to Alternatives.pe, which keeps track of Singaporean filings, the company just raised an extra US$2.5 million for its series B financing.

Based in Singapore, Honest Bank is a financial services business. According to Alternatives.pe, which keeps track of Singaporean filings, the company just raised an extra US$2.5 million for its series B financing.

Rakuten Ventures provided US$1.5 million of the total, with Jetha Global contributing the remaining sum. According to the data, this comes after Japanese company Orico invested over US$19 million in Honest Bank during the same round in 2023.

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It was established in 2019 with an emphasis on the Indonesian market. The Honest Card, a credit card that is offered in physical and digital forms, is its main offering.

Dharu Estiningrum, an executive in the credit card division of the state-owned Bank Mandiri, is the company’s leader in Indonesia.

Global Founders Capital, Village Global, and Permata Bank are among the investors of it. Ongkowidjaja co-founded Alpha JWC Ventures, which is another investor listed on Alternatives.pe. Insignia Ventures Partners led the startup’s US$19.7 million series A financing in 2021.

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Panas is based in Bangkok, and based on his LinkedIn, Honest Bank seems to operate there as well as in Indonesia. It’s unclear, though, if its items have been introduced in Thailand.

About Honest Bank

Honest Bank is a financial services business.

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