Singapore-based technology startup Sea has acquired Indonesian PT Bank Kesejahteraan Ekonomi (Bank BKE) for an undisclosed amount, Bloomberg reported on Wednesday (January 13), citing unnamed sources.

Sea, Southeast Asia’s largest tech startup, now controls Jarkata bank completely after purchasing shares through its subsidiary Turbo Cash Hong Kong. According to the sources, the shares were bought by the existing shareholders PT Danadipa Artha Indonesia and PT Koin Investama Nusantara Ltd. bought via Bloomberg.

The acquisition is in line with Sea’s goal of expanding its position as a FinTech pioneer in its region. Last month, the company took up a nearly $ 3 billion stock offering earmarked for expansion efforts. The company also got a digital bank …

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