JAKARTA - Modalku, a digital funding platform in Indonesia, has distributed funding to more than 4,000 Shopee merchants as a result of collaborations that have been carried out since 2019.
Modalku and Shopee are committed to providing funding solutions to MSMEs who are members of Shopee through a simple online process in order to encourage MSME actors to increase their sales. Currently, the amount of funding disbursement that has been successfully achieved is more than IDR 55 billion and continues to show consistency to grow.
Modalku's AVP Partnership Success Lead, Marsya Juwita, said, "So far, e-commerce in Indonesia still shows the potential for positive trends, especially during the COVID-19 pandemic, the role of digital business is very important for the Indonesian economy. We continue to observe the impact arising from the collaboration between Modalku and Shopee to encourage the progress of MSME players. We have adjusted the access to funding that we provide to the needs and characteristics of online entrepreneurs. We hope that in the future this access to funding can continue to be one of the solutions for MSME actors and can continue to show significant benefits for their business progress.”
Merchants or sellers at Shopee can get an unsecured business capital loan of up to IDR 250 million with an affordable loan interest rate. In addition, sellers at Shopee can also get a 50% admin fee cashback in the form of Shopee vouchers. The entire application process to disbursement can be done through the Shopee application with a maximum period of 3 working days for the disbursement process. Based on the observations that have been made, the fashion industry, household appliances, cosmetics, and body care are the most funded industry categories. Most of the loans disbursed every month are used by merchants to meet their business development capital needs. (LM)