Indonesia's P2P lending market is witnessing rapid growth as Start-ups secure significant funding: Ken Research

P2P lending in Indonesia sees remarkable growth as Start-ups secure substantial funding, driving sector expansion and offering innovative solutions for borrowers and investors.

Storyline:

KoinWorks secures $12 million in a Series B investment round led by EV Growth and Quona Capital.
The Indonesian P2P lending platform uses machine learning to provide low-interest loans to small and medium-sized businesses.
With over 300,000 users, KoinWorks aims to democratize finance and promote financial inclusion in Indonesia.

1. Indonesia's KoinWorks raises $12 Mn to grow its P2P SME lending platform.

To learn more about this report Download a Free Sample Report:
https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2NDgz

As money continues to flow in what has become a hot market for investors, KoinWorks, an Indonesian company that assists small and medium-sized enterprises in securing financial services through its online peer-to-peer platform, has secured $16.5 Mn SGD ($12 Mn USD) in a fresh investment round.

EV Growth and Quona Capital were the main investors in the three-year-old startup's Series B investment. The firm stated in a statement that existing investors Mandiri Capital Indonesia, Convergence Ventures, Gunung Sewu, Beeblebrox, and Quona Capital also took part in the round. With the latest round, KoinWorks has now raised more than $28.5 Mn.

KoinWorks is an online platform that makes use of machine learning to provide these small and medium-sized businesses low interest loans. It finds the companies that are qualified to eventually make the return and links them to lenders.

The platform has amassed more than 300,000 users, it claimed. More than 60% of the lenders are millennials and for 70%, it is their first-time investment. Willy Arifin, a founder and CEO of KoinWorks said the start-up aims to "democratize finance in Indonesia while fostering financial inclusion."

2. P2P Lending Start-up Julo in Indonesia Secures Seed Funding from Skystar.

Visit this Link: - Request For Custom Report:
https://www.kenresearch.com/ask-customization.php?Frmdetails=NTk2NDgz

Indonesia-based peer-to-peer (P2P) lending company Julo has recently raised an undisclosed amount of seed funding from East Ventures, Skystar Capital, and Convergence Ventures.

As per reports, the start-up will be utilising the fund to reach up to 10,000 users within the next year. A portion of the investment will also be spent on distribution.

Established in 2010, East Ventures is a Singapore-headquartered venture capital firm with offices in Tokyo, Jakarta, and San Francisco. So far, it has made over 122 investments in 97 companies across sectors like ecommerce, software, marketplaces, games, apps, etc. In January 2017, it reportedly launched its fifth fund with a corpus of $27.5 Mn aimed at facilitating the start-up ecosystem in Southeast Asia.

Julo Target Users: The 150 Mn Unbanked People in Indonesia.

Conclusion:

KoinWorks, an Indonesian P2P SME lending platform, has raised $12 million in a Series B investment round led by EV Growth and Quona Capital. The funds will be used to further develop the platform's machine learning capabilities and expand its reach. KoinWorks aims to democratize finance and foster financial inclusion in Indonesia.

For more insights on the market intelligence, refer to below link:-

https://www.kenresearch.com/industry-reports/indonesia-peer-to-peer-market

Related Reports By Ken Research:

https://www.kenresearch.com/industry-reports/philippines-home-finance-market

https://www.kenresearch.com/banking-financial-services-and-insurance/loans-and-advances/mexico-car-finance-market-outlook-2027/596308-93.html

Ken Research

Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.