JAKARTA. PT BFI Finance Tbk (BFIN) had granted additional capital worth IDR 25 billion to PT Finansial Integrasi Teknologi (FIT), the managing company of Pinjam Modal fintech platform. The said funds are taken out of its internal cash.
Sudjono, Director of BFI Finance, claims that this additional investment is placed after FIT announced its issued and paid-up capital raise back on August 5, 2021. As additional information, FIT is a subordinate company whose 99.99% of its shares were controlled by BFIN.
Previously, BFIN’s issued and paid-up capital planted in FIT amounted to IDR 25 billion, as reported in June 2021. Thus, after this extra capital injection of IDR 25 billion, the total of its issued and paid-up capital in FIT doubles to IDR 50 billion.
“The purpose of this capital raise is to support the company and its subsidiary’s (FIT) business, thus boosting their profitability,” Sudjono reveals in the information disclosure in Indonesia Stock Exchange earlier today (27/8).
According to idnfinancials.com data, FIT is a company headquartered in South Tangerang, operating since 2018 in the fintech lending business. As of June 2021, it is reported to own assets before elimination of IDR 10.44 billion. (KR/ZH)