JAKARTA - The Modalku Group, known as Funding Societies, has disbursed loans of Rp 36.56 trillion to more than 5.1 million MSME loans in Indonesia, Singapore, Malaysia, Thailand and Vietnam. Throughout the first semester of 2022, the total loans disbursed amounted to Rp 7.2 trillion. Until now, the Modalku Group's loan disbursement figure is still quite stable and even experienced a growth of almost 70% when compared to the distribution of funds in the first semester of 2021, which was Rp 4.2 trillion.
In Indonesia, Modalku funding has been distributed to various MSME industries. Still the same as the previous year, until semester I-2022, the MSME industry which was mostly funded by Modalku was dominated by the trade sector, both wholesale and retail, including online entrepreneurs with 58%. Then followed by the service sector, including the manufacturing, construction, and transportation and warehousing industries with 41%; while the forestry and fisheries sector is 1%. The distribution area of Modalku's funds does not only focus on Java, but also outside Java. Some of the areas outside Java that Modalku are most likely to fund include Riau, North Sumatra, South Sulawesi and Bali.
Iwan Kurniawan, Co-founder & COO of Modalku, explained “The year 2022 has been a memorable year for Modalku. In the midst of a challenging business situation, we remain consistent in continuing to grow and become a solution for the needs of MSMEs. This is evidenced by our various achievements and initiatives. Such as receiving Series C+ funding, collaborating with various parties, and expanding reach to more MSME industries by expanding.”
In addition to obtaining Series C+ funding, during semester I-2022 the Modalku Group carried out various initiatives, namely co-investment with Bank Index, collaborating with various parties such as Bank DBS and Linkz Asia, and acquiring CardUp as a means of expanding payments services. Not only that, recently the Modalku Group has expanded its wings by expanding in Southeast Asia to Vietnam and Makassar as the first cities outside Java. This achievement is a form of the Modalku Group's contribution to providing more optimal services to MSMEs in Southeast Asia and Indonesia in particular. (LM)