Indonesian e-wallet LinkAja to release sharia-based service

Indonesian e-wallet platform LinkAja (formerly known as TCASH) announced that it is ready to launch a sharia-based service in November, DailySocial wrote.

The announcement was made following the awarding of sharia-compliance certificate by the national sharia council of the country’s ulema council (DSN MUI).

With the certificate, LinkAja plans to start processing e-money license application to the central bank. This process may take 40 working days.

The company also announced that it has formed a sharia monitoring council as part of the requirement to run a sharia-based business.

Former Tiger Global executive Lee Fixel is set to launch a new US$1 billion fund called Addition, Deal Street Asia reported.

Citing three anonymous sources, the report stated that the fund will be launched “as early as next month” and will be launched “as soon as a non-compete agreement with his former employer expires.”

The investor plans to actively look at startups in India and Southeast Asia.

As the head of Tiger Global’s private equity business, Fixel led the firm’s investment in Flipkart, which was later acquired by Walmart.

Bangalore-based edutech AttainU today announced a funding round from investors that include Shailesh Rao (ex-Google India Head), Nikhil Rungta (ex-Intuit India Head), Anil Gelra (Founder of SnapMint) and Manish Kumar (Founder of KredX and LetsVenture).

Founded by Divyam Goel and Vaibhav Bajpai in 2018, AttainU currently offers full-time, online seven-month-long software engineering courses for users looking to get into software engineering careers. It also provides career counselling as part of their student assessment process and connects graduates to industry partners for placement upon completion of the course

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The company plans to use the funding to further strengthen faculty, development of courses, counselling teams, and build a semi-automated platform to cater to the huge inbound student they claimed to be receiving.

Multi-stage and sector-agnostic investment firm Roots Ventures today announced an undisclosed investment into Kaarya Naturals, a Mumbai-based health food company.

Founded by Kajal Bhatia, who is said to be India’s first certified whole food nutritionist and a diabetes educator, the company currently retails its range of protein and health bars under the eighty20.

It plans to expand its range of healthy snacks.

“We are what I call a snacking nation, but at the same time, we are increasingly witnessing a trend of eating healthy without compromising on taste. Consumers are focusing on nutrition and additionally, vegetarians looking for ways to overcome protein deficiency in their traditional diet. We are excited to be partnering with Kajal who brings her significant experience in health and nutrition to launch great tasting and healthy snacks, their association with TJUK will provide the company, ability to reach a wider audience in a short period of time,” Japan Vyas, Managing Partner of Roots Ventures, commented on the investment.

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