JAKARTA. Investree, an Indonesian peer-to-peer (P2P) lending fintech, received US$ 23.5 million in the first phase of Series C funding, led by MUFG Innovation Partners (MUIP) and BRI Ventures.
MIUP is a subsidiary of Mitsubishi UFJ Financial Group Inc. (MUFG), which manages corporate capital investment funds for fintech funding. Meanwhile BRI Ventures is a subsidiary of PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) or BRI, which can accelerate investment in startup companies.
Adrian Gunadi, CEO & Co-Founder of Investree, said the investment is proof of the strong business potential of Investree and P2P Lending in the Southeast Asian region. "We believe that Indonesia and Southeast Asia have great potential in terms of fintech solutions to provide SME loans, we are pleased MUFG and BRI can share this vision," Gunadi explained to idnfinancials.com today.
Meanwhile Nobutake Suzuki, President & CEO of MUIP, said that the Southeast Asian region still has great potential in terms of SME financing. "We see Invetree has proven management strategies and expertise," Suzuki explained on the same occasion.
In this funding, there are some investors who participated in the Series B funding for Investree participated again. Some of them are SBI Holdings from Japan and 9F Group from China. (KR/AR)