East Ventures on Instagram: "We are very thrilled to announce that @komunal.id, Indonesia's first fintech company to offer Neo-rural bank services locally, has secured US$ 2.1 million (approximately IDR 30 billion) in the Series A funding round, led by East Ventures with the participation from Skystar Capital. The fresh capital will accelerate Komunal’s mission to boost financial inclusion in Indonesia by enhancing its latest product DepositoBPR. Recently, DepositoBPR has been regulated under an official license from Financial Services Authority (OJK), making Komunal the first authorized Funding Agent in Indonesia. They aim to provide a platform to connect depositors or savers to financial institutions nationwide, especially BPR (Bank Perkreditan Rakyat or rural banks). DepositoBPR enables societies nationwide to access the highest possible government guaranteed deposit rates from rural banks in any region without having to visit the bank. By bringing digitalization into the ecosystem, Komunal is working to launch Indonesia’s first e-bilyet BPR deposit by the end of 2021. Willson Cuaca, Co-Founder and Managing Partner of East Ventures said, "We are proud to double down on Komunal since we share the same vision and purpose. Komunal introduced the new concept of “neo rural bank” to upgrade and equipt smaller banks with advanced capabilities. We hope this approach will accelerate financial inclusion massively and deeper to every Indonesia region." Read more about Komunal's future goals and its newest product at bit.ly/ev-komunalseriesa #EastVentures #KomunalID #EastVenturesPortfolio"