Finarya is lining up funding from state-run bank BRI's corporate venturing unit, which is taking a 19% stake in the Mobile wallet provider.

BRI Ventures, the venture capital arm of financial services firm Bank Rakyat Indonesia (BRI), is set to invest Rp 300bn ($21m) in Indonesia-based mobile wallet developer Fintek Karya Nusantara (Finarya), DealStreetAsia has reported. The state-owned BRI Ventures will receive a 19% equity stake in Finarya through the investment. Finarya operates a mobile payments platform called…

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