June 18

Indonesia’s Flip Raises $55 Million in Second Series B Round Led by Tencent

Flip, an Indonesia-based consumer payments platform, announced Tuesday a second close of a Series B funding round led by Tencent, with participation from Block, Inc. (formerly Square, Inc.) and existing investor Insight Partners.

Flip said in a statement that a number of eminently experienced operators participated in this extension round, including Guillaume Pousaz, Founder and Chief Executive Officer of (through Zinal Growth); Gokul Rajaram, Executive at Doordash and Board Member at CoinBase and Pinterest; and Michael Vaughan, Former Chief Operating Officer (COO) of Venmo.

This new funding brings Flip’s total Series B to more than $100 million and follows on the heels of Flip’s first Series B round in December 2021 which was co-led by Sequoia Capital India, Insight Partners, and Insignia Ventures Partners.

Photo courtesy of ILO Asia-Pacific.

Source: TechNode Global (link opens in a new window)

Finance, Technology
digital payments, financial inclusion