After securing a pre-series A round led by Beenext, Wallex Technologies is announcing its entry into Indonesia.
The Singapore-based startup has obtained a remittance license from the Monetary Authority of Singapore and a money transfer license from Bank Indonesia.
Wallex Indonesia has created an easy-to-use online dashboard that enables users to view and lock-in rates, create payment instructions, and upload relevant documents.
The Singapore-based startup, which focuses on small to-medium-sized enterprises, says that a majority of its Indonesian customers come from the import sector.
Wallex also caters to users who make cross-border payments such as school fees.
(And yes, we’re serious about ethics and transparency.