Danamon and MUIP Share Startup Funding through Garuda Fund at TIA Conference 2023

Press Release / 18 October 2023

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Jakarta, October 18, 2023 – PT Bank Danamon Indonesia Tbk (Danamon), collaborates with MUFG Innovation Partners Co., Ltd. (MUIP), and participates as one of the sponsors at the Tech in Asia (TIA) Conference 2023. On this special occasion, Danamon and MUIP are teaming up to share valuable tips on securing startup funding through the MUIP Garuda Fund, while also showcasing the exciting opportunities for collaboration through Danamon’s digital products and services.  

The TIA Conference is an annual event held by Tech in Asia with the purpose of providing learning opportunities and a chance to network with technology communities and startups in Asia. This year, the TIA Conference is taking place at the Ritz Carlton Pacific Place, Jakarta, on October 18-19, 2023, and promoting the theme ‘Southeast Asia: A Bright Spot in the Tech World,’ which aims to give hope and inspiration to the technology industry.

The participation of Danamon in this event is a continuation of the fund placement program through MUIP Garuda Fund to support the growth of startups in Indonesia, which has begun since January 2023. MUIP Garuda Fund was founded to enhance strategic investments within Indonesia’s digital finance sector that is growing rapidly and competitively. MUIP’s Garuda Fund focuses its investments on promising digital financial platforms and fintech startups to drive startup growth and expand Danamon’s collaborative ecosystem. 

Danamon’s collaboration with MUIP is determined to create business synergy opportunities within the customer acquisition process, network expansion, and capability enhancement, while also promoting the Indonesian digital financial industry. Until now, MUIP has invested 40 billion yen in various companies worldwide and has promoted collaboration with 45 active startup portfolios.

At the TIA Conference 2023, Ryu Hirota, Director in charge of MUIP Garuda Fund at MUIP, explained the MUIP Garuda Fund investment strategy and varied ways for the stakeholders to support the new companies in Indonesia. 

Andreas Kurniawan, Chief Digital Officer of Danamon, also presented Danamon’s API Capabilities tailored to support startups’ business. “In Danamon, we see the comprehensiveness of our API as one of the key enablers for us to grow our business. Currently, our API covers the capability to serve both the Consumer and Business Banking. It holds the capability for Onboarding, Direct Debit, QR API along with Cash Management, Financial Supply Chain and Trade Financing. In the future, we look forward to growing our business even more by emphasizing the use of Danamon API,’’ Andreas said. 

Visitors have the opportunity not only to receive direct insights from MUIP’s and Danamon's experts but also to savor a complimentary cup of coffee provided by Danamon, while receiving in-depth explanations about Danamon's B2B and B2C services such as: Internet Banking Service Danamon Cash Connect, Giro BISA Current Account and various API service capabilities, for instance API Onboarding, API QRIS, API Direct Debit, API Virtual Account, and API Fund Transfer at the Danamon & MUIP offline booth. These startup-tailored services symbolize the commitment to fostering growth and enhanced collaboration with startups, a goal which both MUIP and Danamon eagerly share for the future following this event. 

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