Gunderson Dettmer represented client Insignia Ventures Partners, an early-stage venture fund with a focus on Southeast Asia, as it led the $19.7 million Series A financing of Honest Bank, a Singapore-headquartered fintech company with operations in Indonesia founded by Will Ongkowidjaja, founding partner at Alpha JWC Ventures. According to reports, the latest round valued Honest Bank at $113 million, nearly a four times increase since its previous round.

Honest Bank’s mission is to provide access to fair banking in Southeast Asia. Following the announcement of the transaction, Honest Bank may soon launch credit services in Indonesia, acquire a credit card license in Indonesia, and hire more staff across Southeast Asia.

The Gunderson deal team was led by Jolyn Ang and included Benjamin Teo.

Companies:
Insignia Ventures Partners