Fintech Platform for UpBanx Creators Reaches 74 Billion Rupiah Funding, Centaur Valuation Claims in First Year of Operation

The fintech platform UpBanx, which aims to develop a digital banking platform for creators (or an influencer) and brand, announced the acquisition of initial pre-funding of $5,2 million or approximately 74 billion Rupiah with claims $120 million valuation (centaur) in only 6 months of operation or 1 month of official establishment. The service itself is not yet accessible to the public.

This year's funding was joined by Y Combinator, Alpha JWC Ventures, Alto Partners Multi-Family Office, Number Capital, UBI Capital, Raffi Ahmad and Nagita Slavina, Collab Asia and DRM (Digital Chain Maya) creator network, and a number of well-known angel investors.

Included in the ranks angel investors These are Melvin Hade (GFC Partner), Hendra Kwik (CEO of Fazz Financial), Hendoko Kwik (CEO of Modal Rakyat), Budi Handoko (CEO of Shipper), and Arya Setiadharma (CEO of Prasetia Dwidharma).

UpBanx was founded by Wafa Taftazani (ex-Googler and Co-Founder of Modal Rakyat), Hendri Wijaya, and Alif Jafar Fatkhurrohman. They follow the prestigious Y Combinator incubator batch W22.

CEO Wafa Taftazani said, "We built UpBanx as an integrated platform for the creator economy and beyond. Apart from providing financial solutions, we will also facilitates seamless collaboration between creators and brands. In the near future, we will also act as a Web3 launch platform for creators and brands, to help fanengagement in a new, innovative way."

UpBanx will be here in 2022. The concept is somewhat different from most digital banking. To join, participants must be creators on YouTube, Instagram, or TikTok. It is not yet known how the curation criteria will be carried out by the platform later.

UpBanx will later use a banking license owned by BPR Sentral Mandiri and supported by Fazz Financial's fintech ecosystem, in particular People's Capital and Cashfazz.

There are not many digital banking platforms that specifically target niche markets (niche). Previously Hijra from Alami is also projected to be the first Islamic digital bank.