Summary
Indonesian open banking fintech Brick is in talks to sell a majority stake to an Australian fintech firm, signaling consolidation in Southeast Asia's open banking space. Brick provides API infrastructure that connects financial institutions and fintechs in Indonesia, one of Southeast Asia's largest and fastest-growing digital economies. The potential acquisition reflects growing interest from Australian and global fintechs in expanding into Southeast Asian markets through acquisition rather than organic growth. Brick was founded by Gavin Tan and has been a key player in Indonesia's open banking ecosystem.
Key Facts
- Brick in talks to sell majority stake to an Australian fintech firm
- Brick: Indonesian open banking API infrastructure provider
- Connects financial institutions and fintechs in Indonesia
- Founded by Gavin Tan (CEO) and Donnie Silalahi (Head of Operations)
- Part of broader trend: Australian/global fintechs expanding into SE Asia via acquisition
- Indonesia: one of SE Asia's largest digital economies
- Open banking in Indonesia: growing but fragmented regulatory landscape
- Deal would represent consolidation in the open banking middleware space
- No deal value or Australian buyer name disclosed yet
Why It Matters
Brick's potential sale reflects the maturation of Southeast Asia's fintech ecosystem. After years of growth, consolidation is beginning as larger players acquire regional platforms to expand their footprint. For Australian fintechs, Indonesia offers a large, underbanked market with a rapidly digitizing economy. The deal also highlights the strategic value of open banking infrastructure: as regulators across SE Asia push for open banking standards, the companies that provide the API plumbing become attractive acquisition targets. If this deal closes, it could trigger more M&A in the region's open banking space.