P2P lender AwanTunai raises up to US$20 million debt facility
JAKARTA - P2P lending startup AwanTunai has obtained up to US$20 million in debt facility in a funding round led by Accial Capital.
In an official statement, AwanTunai said it will use proceeds from the round to expand its wholesaler supplier financing and flagship inventory purchase financing programme AwanTempo.
“Our vision is affordable financing for the millions of undeserved micro businesses that employ 90% of Indonesia’s workforce. We collaborate with banks and funds that understand our transaction data-based risk management,” AwanTunai CEO Dino Setiawan said as quoted from DealStreet Asia, Monday (20/7).
The company offers point-of-sale financing services and mobile-based consumer credit to micro businesses, using transaction data as an indicator of credit performance. In 2018, it raised US$4.3 million in a Series A round led by Insignia Ventures Partners and AMTD Group. (MS)