# Flip, an Indonesia-based consumer payment platform, has closed a $55 million Series B extension round led by Tencent.

*fintech · news · 2022-06-14 · TechCrunch*

## Key points

- Flip raised a $55 million Series B extension led by Tencent and joined by Block and Insight Partners.
- Flip's total funding now stands at $120 million, but its current valuation remains undisclosed.
- Block's participation marks one of its first investments in Asia after Kyash in Japan.
- Flip now serves over 10 million Indonesian users and processes more than $12 billion in transactions annually.
- The new funding will primarily expand Flip's engineering and product teams and accelerate technology development.

**Companies:** Tencent, Block, Flip
**Countries:** Indonesia, Japan

[Read the full story on TechCrunch](https://techcrunch.com/2022/06/14/tencent-block-back-indonesian-fintech-platform-flip-with-55m-series-b-extension/)

---

Canonical: https://newsio.io/n/aa013b36-859e-4d64-82a5-79ceef18432e/flip-an-indonesia-based-consumer-payment-platform-has-closed-a-55-million-series
Summarized by Newsio from TechCrunch. https://newsio.io/how-it-works