Honest Bank

2021: $5.5 million investment from Digital Horizon

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Round leader-- > The leaders of the round were Insignia Ventures Partners and the Digital Horizon Foundation. Digital Horizon invested $5.5 million in the company.

Honest Bank is set to take a high position in the Southeast Asian credit card market. The team started from Indonesia, where only 3% of the population has credit cards. The company's faunders worked in investment banks, venture funds with a focus on fintech, Big Four companies. One of the co-founders, Peter Panas, led the project to launch Apple Card on the side of Goldman Sachs.

The funds raised in the round, Honest Bank will spend on obtaining a license to issue credit cards. Fintech is also going to increase the team, open offices in Bangkok and Jakarta.

{{quote 'author = said Alan Waxman, founder and managing partner of Digital Horizon. |

Honest Bank is a young company, but we see that the team is able to achieve the stated goals - to build a fintech giant in the Southeast Asian market. The share of online shopping is growing in the region, but there are still not enough technological credit products. Honest Bank may become Asian Nubank,}}