JAKARTA - Peer-to-peer (P2P) lender Modalku has pocketed an undisclosed amount of debt funding from Triodos Investment Management.
According to an official statement, the transaction took place through Triodos’s financial inclusion funds Triodos Microfinance Fund and Tiodor Fair Share Fund. The proceeds will be used by Modalku to expand its credit access for MSMEs to increase financial inclusion in Indonesia.
“The funding from Triodos Investment Management marks a new milestone for us… Going forward, we want to reach far more MSMEs,” said Modalku co-founder and CEO Reynold Wijaya as quoted by DealStreet Asia, Wednesday (4/12).
“We believe that expanding credit access will not only drive MSME growth but also benefit the economy and our societies.” (MS)