Indonesian fintech Flip secures $55 million in Series B extension

Flip, 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.