Brick Raises Seed Round to Build Open Banking Infrastructure in Southeast Asia

On March 17, 2021, Brick announced an undisclosed seed funding round led by Better Tomorrow Ventures, with participation from PT Prasetia Dwidharma, 1982 Ventures, Antler, and Rally Cap Ventures. Notable angel investors included TrueLayer's Shefali Roy and Cred's Kunal Shah. Brick provides API infrastructure for open banking in Southeast Asia, enabling identity verification, financial data access, and payment initiation.

The company has established partnerships with Indonesia's seven largest banks, covering approximately 90% of the country's bank accounts. Brick plans to extend its services to mobile wallets and telcos, and to expand geographically into Singapore, the Philippines, and Vietnam. The startup is capitalizing on Indonesia's 2020 open banking standards for payment initiation APIs, positioning itself as a foundational layer for fintech development in the region.