1982 Ventures Announces Investment into Financial API Provider Brick
March 23, 2021
1982 Ventures backs Brick, a Southeast Asian API provider which allows tech companies to offer personalized and inclusive financial services with a single line of code.
- 1982 Ventures is an early investor in Brick.
- Brick recently announced the closing of their seed round led by US-based fintech fund Better Tomorrow Ventures.
- Brick’s clients include some of Indonesia’s largest fintechs. Brick will use the funds to increase coverage throughout Southeast Asia and launch new APIs for payment initiation and other innovative financial products.
Brick, a fintech API provider, has secured funding from 1982 Ventures and other leading venture capital firms from Indonesia, Silicon Valley and Singapore. Brick builds fintech APIs for tech companies through which their users can connect their financial accounts to an app and access a myriad of financial services. Brick is compatible with more than 90% of adult bank accounts in Indonesia; and is currently working with more than 250 developers, 35 tech companies and counts some of the largest Indonesian fintechs as paying clients.
Brick has secured seed funding from 1982 Ventures, Better Tomorrow Ventures, PT Prasetia Dwidharma, Antler, Rally Cap Ventures and prominent angels such as Shefali Roy (TrueLayer), Kunal Shah (Cred), Reynold Wijaya (Modalku), Quek Siu Rui (Carousell) and the founders of Nium, Xfers, Aspire, BukuWarung, ZenRooms, and CareemPay.
“Having investors that understand our fintech business model and able to provide useful investor, client and talent introductions has been invaluable to us”
Gavin Tan, CEO and Co-Founder, of Brick stated, “1982 Ventures has been with Brick since the beginning. Having investors that understand our fintech business model and able to provide useful investor, client and talent introductions has been invaluable to us.”
“Brick is building the infrastructure needed to transform financial services in Southeast Asia”
Herston Powers, Managing Partner, of 1982 Ventures stated, “Brick is building the infrastructure needed to transform financial services in Southeast Asia. This market is now ready for a world class fintech API provider. Brick’s execution and API platform has blown away the competition as fintechs and their developers chose Brick.”
With the proliferation of fintech apps in Southeast Asia, there is a growing need for modern financial infrastructure that developers can leverage to build modern fintech experiences. Many of the fintech apps we see in the market today are built on legacy infrastructure that increases the complexity and cost of implementation.
“Brick has been unmatched in their ability to quickly deliver product to market”
Scott Krivokopich, Managing Partner, of 1982 Ventures stated, “Gavin, Deepak and the team have been unmatched in their ability to quickly deliver product to market. We are proud to be an early backer of Brick and are looking forward to working with the prestigious funds and fintech luminaries joining Brick’s seed round.”
Brick was invited to join Bank Rakyat Indonesia (BRI) Ventures highly selective Sembrani Wira accelerator programme. Brick and Bank BRI will co-create innovative and inclusive fintech infrastructure. Bank BRI has the largest bank consumer base in Indonesia.
Brick plans to eventually cover all countries in Southeast Asia and will use the funds raised to scale the platform, increase coverage and expand to its next market. Later this year, Brick plans to launch new APIs for telcos, mobile wallets, e-commerce platforms, payment initiation and other innovative financial products.
MADE FOR DEVELOPERS ♥
With a free Brick developer account, you can:
- Integrate Brick APIs into your apps and start connecting to banks today
- Access your API credentials, and manage your settings and product configurations
- Use Brick SDKs to enable a seamless user authentication journey
About 1982 Ventures
1982 Ventures is a Singapore based VC firm focused on investing in early stage fintech start-ups in Southeast Asia. 1982 Ventures is investing in and supporting the best founders to positively impact the future of financial services in Southeast Asia.
Brick is a fintech API provider allowing Southeast Asian tech companies to offer in-app financial services with a single line of code. Brick offers account aggregation, identity verification, and income verification services that allows tech companies to instantly supercharge their apps with personalised and inclusive financial services.
Antler is a global early-stage venture capital firm that invests in the defining technology companies of tomorrow. The firm has offices in eleven cities worldwide, across six continents. Founded in Singapore in 2017, Antler is on a mission to fundamentally improve the world by enabling and investing in the world’s most exceptional people. Since its launch, Antler has invested in and helped build over 250 companies.
About Better Tomorrow Ventures
Better Tomorrow Ventures is a fintech-focused early-stage venture firm founded by Sheel Mohnot, formerly a general partner at the fintech fund of 500 Startups, and Jake Gibson, co-founder of Nerdwallet, one of the original consumer Fintech companies. Mr. Mohnot will be joining the board of Brick.
About BRI Ventures
BRI Ventures is the Corporate Venture Capital of Bank BRI. Backed by Bank BRI’s network and experience in the financial sector, BRI Ventures aims to accelerate Indonesia’s financial inclusion and digital economy society by empowering the start-up ecosystem.
About PT Prasetia Dwidharma
PT Prasetia Dwidharma, through its family office division, invests in technology companies with a focus in early-stage B2B startups. Prasetia has backed more than 100 scalable and fast-growing startups in various industries across Southeast Asia (predominantly in Indonesia) and the United States.
About Rally Cap Ventures
Rally Cap Ventures is a global venture collective of operators, founders and VCs collaboratively sourcing, investing in and advising early stage fintechs in emerging markets.