JAKARTA - Modalku has achieved a total disbursement of business capital of Rp 5.2 trillion for MSMEs (Micro, Small and Medium Enterprises) in Indonesia, Singapore and Malaysia since its establishment. From this total disbursement, Indonesia is Modalku's biggest market with contributions of more than Rp 3.1 trillion.
The increase in the total disbursement of Modalku's UMKM funds was even faster. The total disbursement rate in Southeast Asia rose by Rp 1 trillion from January 2019 to the end of March 2019.
Modalku's Co-Founder & CEO Reynold Wijaya said, "We are grateful to see the achievements of our business, especially in Indonesia. However, we are not complacent. Our journey is still very long. Modalku is a young company and there are still many things we want to do to reach as many MSMEs in Indonesia as possible and gain their trust. We want to achieve financial inclusion in the future, where everyone has access to financial services and is incorporated into the formal financial system. Modalku's way is to contribute through providing business capital to the MSME segment that has been underserved or underserved by conventional institutions."
As a newly established financial technology company, the nation's startups have disbursed more than 350,000 loans in Southeast Asia with a low rate of default (0.76%). This shows that although the rate of disbursement is increasing rapidly, Modalku's growth is carried out in a healthy manner. Starting in 2019, Modalku actively serves the micro traders segment which has significant needs for loans without collateral. (LM)