JAKARTA - Modalku Group, a fintech platform, has channeled US$ 3 billion in financing to 100 thousand Micro, Small and Medium Enterprises (MSMEs) debtors in five countries, including Indonesia, Malaysia, Singapore, Thailand and Vietnam.

Reynold Wijaya, Co Founder and CEO of Modalku said that he consistently supports financing for MSMEs with various short-term funding facilities. "The funding facility is offered by keeping the group's default rate below 2%," he said in a press release, Tuesday (18/4).

According to him, the funding solutions offered by the Modalku Group include payments and collect payments that can be used by MSMEs to receive payments from customers. Modalku Group's gross transaction value is recorded to grow threefold per year for Elevate products in Singapore and Malaysia and integration with Cardup ​​as a payment solution in 2022.

Regarding the empowerment of MSMEs in Southeast Asia, the company has received Series C + funding, increased financing distribution in Thailand and Vietnam, deepened the proportion of local funding, received the first credit facility from HSBC worth US$ 50 million, and co-invested with Bank Index.

He is optimistic that financing for MSMEs will continue to grow and be sustainable amidst global challenges this year. "We will continue to innovate and respond to the challenges experienced by MSMEs by increasing access to finance and payments, and other financial services," he said. (LK/LM)