Validus Capital will provide loans to SMEs in Indonesia

08 October 2019 16:42

JAKARTA. Validus Capital, a Peer to Peer (P2P) Lending platform for SME (Small-Medium Enterprise) based on Singapore, began to run its business in Indonesia due to its large market potential. 

Ajit Raikar, Co-Founder & CEO of Validus Capital, acknowledged that there are quite a lot of P2P lending platforms in Indonesia. However, only a few of them focus on lending for the SME segment.

"Most platforms (P2P Lending) only target the retail and individual segments," said Raikar. "There are only two to four platforms that focus on SME segment," he added.

Raikar explained, Validus Capital used "Batumbu" name in Indonesia. This platform is running under the umbrella of PT Berdayakan Usaha Indonesia, in collaboration with the Triputra Group. Raikar was reluctant to explain how much capital was disbursed by the company in Indonesia.

The Financial Services Authority (OJK) noted that there were 127 registered P2P Lending fintech in Indonesia. From the number, 119 of them run conventional lending business and the rest provide sharia-based loans. Batumbu itself has been registered in OJK since 8 April 2018. (KR/AR)

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