Indonesian P2P lending platform Amartha has received new funding worth US $ 28 million (Rp405 billion) led by Women’s World Banking Capital Partners II (WWB) and MDI Ventures.
WWB Capital Partners II is the second gender lens investment fund founded by the World Bank for Women, a global non-profit organization that has been working on women’s financial inclusion for the past 40 years.
This investment will invest in the best financial services providers to serve the low-income group of women, increase gender diversity of staff and management teams, and leverage innovative solutions to reach out and engage the community. We aim to close the gender gap in financial inclusion by increasing.
Through this investment, Amartha will work with Telkom Group to open up opportunities to digitize and increase financial inclusion in rural Indonesia.
The round was also supported by existing investors Mandiri Capital Indonesia and UOB Venture Management.
Amartha empowers rural female micro-entrepreneurs by offering group-based business capital loans of R3 million to R3 million with financial literacy and entrepreneurship education.
Andi Taufan Garuda Putra, Founder and CEO of Amartha, said:
“Thanks to all the investors, lenders, partners and Amartha team for their support and trust. What we do together will affect the well-being of women in the village and the economy of the country.
This new financing strengthens Amartha’s group lending (Gramin model) business, accelerates product innovation, village digitization, wholesale shopping, shop loans, crowdfunding, new financing products, borrowers Directly to. “
Hadi Wenas, Chief Commercial Officer of Amartha, added:
“The 2020 Covid-19 pandemic poses a challenge for everyone, including us. With tenacity, collaboration, and a common vision of” equal prosperity in Indonesia, “we are well on our way to recovery. He embarked on a journey with new norms and built a variety of products and services for the micro-enterprise sector.
Partnering with WWB will enable women to adopt world best practices that will help women benefit from technology and make themselves and their families more prosperous. “
Indonesian P2P lender Amartha secures US $ 28 million from World Bank for Women
Source link Indonesian P2P lender Amartha secures US $ 28 million from World Bank for Women