IslamicFinance.de

Fintech startup Dana is looking for another strategic investor. Currently backed by Ant Financial, Dana offers services such as QR-code based transfers and online credit-card transactions for individuals as well as merchants. Dana is considering expanding its footprint in Indonesia by offering other financial services such as insurance. The startup is wary of becoming labelled a shadow bank operating outside of regulatory jurisdictions. Indonesia’s internet economy, the largest and the fastest growing in the region, reached $27 billion in 2018 and is poised to grow to $100 billion by 2025, according to a report by Google and Temasek Holdings Pte.