Honest Expands Equity Funding to $100M

Makoto Umemiya, President & Representative Director of Orico, said:"Indonesia's credit card market holds enormous potential, and Honest is well-positioned to lead this growth with its innovative approach. We are excited to back the company as a long-term strategic partner, supporting its journey to become a market champion and transform financial services for millions of Indonesians." Makoto Umemiya, President & Representative Director of Orico, said:" Indonesia'scredit card market...

JAKARTA, Indonesia, 01/10/2025 (informazione.news - comunicati stampa - information technology)

, said:

Orico is one of Japan's leading credit card issuers and the consumer finance arm of Mizuho Financial Group, one of the world's largest banks with trillions in assets.

, added:

XYZ Venture Capital is a billion-dollar Silicon Valley fund founded by Fubini, who has been recognized on the Forbes Midas List. Fubini will also join Honest's board with XYZ becoming the company's second-largest investor after Orico.

Launched in 2023, Honest is Indonesia's fastest-growing credit card issuer, with ambitions to pursue a U.S. IPO before 2030. The company was founded by , former VP of Product for Apple Card at Goldman Sachs, and , co-founder of Alpha JWC, Indonesia's leading venture capital firm.

Honest is the only fintech in Indonesia with a credit card license, following its acquisition of GE Finance Indonesia in 2022. Its investors include leading Silicon Valley firms such as XYZ, Village Global, and Goodwater, as well as Japanese payments leaders Orico, Rakuten, and GMO. Notable angel investors include , founder of Nubank.

Contact: pr@honestbank.com

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