Jakarta, Indonesia-based peer-to-peer lending platform Amartha announced in February 2021 that it has raised US$ 50M in a debt financing round from UK-based Lendable.
CEO Andi Taufan Garuda Putra founded Amartha in 2010. The fintech startup helps women micro-entrepreneurs in rural areas in search of working capital by connecting them with lenders. It claims it has provided funding of US$ 222K to over 600,000 women micro-entrepreneurs based in Java, Sumatra and Sulawesi.
The CEO noted that women are a crucial part of a micro-economy that will play an essential role in Indonesia’s economic recovery. He added that by providing access to funding and entrepreneurship education to women, Amartha could benefit business owners by growing their yearly income by up to seven-folds. He is thankful for Lendable’s trust so that women can augment their role in the Indonesian economy, particularly for post-pandemic recovery. Putra concluded by saying that Indonesian micro-enterprises have shown strong resilience during the pandemic and are talented prospects moving forward to succeed.
Over 22 million women micro-entrepreneurs do not have access to banking and financial establishments in Indonesia. Amartha claims the unbanked and underprivileged section of women in rural areas can flourish by adopting its technology.
Various features of the Amartha platform include:
- Users can maximize their returns with up to 15% per year, weekly cash flow & the capability to cash out loan repayments anytime.
- Its lending platform is licensed and supervised by The Financial Services Authority of Indonesia (OJK). It also implements a risk management system that integrates on-site assessment, technological advancement, and assured repayments through insurance.
- The startup is dedicated to creating a more equal and wealthy Indonesia. The lender’s funds would only be allocated to determined and resolute women, small businesses and rural entrepreneurs.
Hani Ibrahim, Chief Investment Officer of Lendable, said women entrepreneur-focused investing is a critical development goal in emerging and frontier markets. Lendable has been awestruck with the energy and devotion that the Amartha team has given to encouraging financial inclusion for female micro-entrepreneurs in rural Indonesia. He was quoted to have said, “Amartha’s objectives very much align with Lendable’s commitment and our aim of supporting the unbanked and underbanked segments of society by providing debt to fintechs that deliver crucial services”.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!
Next Story
[…] Next Story […]