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# Indonesian fintech Flip secures $55 million in Series B extension
- URL: https://www.techloy.com/indonesian-fintech-flip-secures-55-million-in-series-b-extension/
- Published: 2022-06-15T10:55:04.000Z
- Updated: 2022-12-08T01:35:30.000Z
- Author: Oluwajuwonlo Afolabi
- Tags: / Fintech, Tech in Indonesia

[Flip,](https://flip.id/landing) an Indonesia-based fintech platform has secured $55 million in its Series B funding round led by Tencent, with participation from Block and Insight Partners. 

- The fund will be used to develop its engineering and product teams, invest in new products and technologies, and expand its operations.
- Flip is a fintech platform offering online payment services including interbank transfers, e-wallet top-ups, international remittances, payment transfer products, and enabling users to send money to over 45 countries from Indonesia.
- It processes over $12 billion annually and has served more than 10 million people in the country, it claims.