Finch Capital Exits Cermati to Djarum Group (Asia)

Source(s): Finch Capital

Finch Capital, a venture capital firm investing in early-stage financial technology businesses in Southeast Asia and Europe, has exited its minority stake in Indonesia-based online financial product marketplace Cermati to Indonesia-based conglomerate Djarum Group. Finch originally invested in Cermati’s Series A round in February 2017 and reportedly generated a 2.7x return multiple and an IRR of more than 100 percent at exit. Additional financial details of the transaction were not disclosed.