KoinWorks, a P2P lending platform, has raised $43M in Series C funding from Quona Capital, East Ventures, MDI Ventures, and AC Ventures, among others. It has also raised $65M in debt from Triodos Bank.
How’s the company performing?
- Jakarta-based KoinWorks helps SMEs and individuals obtain working capital from available lenders. It also offers accounting software, budgeting apps, invoice factoring, and other financial tools.
- The startup’s user base tripled to 1.5M during the Covid-19 pandemic. It currently has 100K SMEs on its onboarding waitlist.
- Since 2019, it has tripled its monthly loan disbursements to reach $50M, and it has also quadrupled its revenue.
- The company’s non-performing loan (NPL) percentage is currently less than 2%.
- The company is headquartered in Jakarta, but it also maintains offices in India, Vietnam, Yogyakarta, and Singapore.
Want the full post? Become a CB Insights customer.
If you’re already a customer, log in here.
The post Jakarta-Based SME P2P Lending Platform Koinworks Raises $108M In Equity And Debt — Its Competitors In The SE Asia Digital Finance Space Include Akseleran, Amartha, Investree, And Modalku appeared first on CB Insights Research.