Indonesian P2P lender KoinWorks raises USD 12 million Series B funding

Written by Khamila Mulia Published on 

The round was led by EV Growth and Quona Capital

Indonesian peer-to-peer (P2P) lending platform KoinWorks raised USD 12 million (IDR 170 billion) in its Series B funding round, co-led by EV Growth and Quona Capital with participation from existing investors.

In an official statement, KoinWorks said it will utilize the investment to expand its team and explore more partnerships. The startup will also continue to develop and improve technology and innovation in order to further support financial inclusion in Indonesia.

In 2018, KoinWorks raised a Series A financing round from investors including Mandiri Capital Indonesia, Convergence Ventures, Gunung Sewu, Beeblebrox, and Quona Capital.

Founded in 2016 by Benedicto Haryono and Willy Arifin, KoinWorks aims to provide access to financial services for SMEs, especially those who’re underbanked. By leveraging machine learning, the platform offers low-interest loans for borrowers while promising better returns for lenders. The platform has various investment types including business financing and invoice financing.

KoinWorks claims to have the largest retail investor base in Indonesia with over 300.000 users.

The company claimed that 60% of investors on KoinWorks are millennials and 70% of them said that KoinWorks is their first investment product.


You might like these

  • News

    Thailand’s main digital asset exchange will go without cryptocurrency


    Stephanie Pearl Li

    22 Jan 2021    05:43 AM

KrASIA InsightsKrASIA Insights

  • A growing presence of digital banks in Indonesia will encourage innovation and digitalization of financial services, expert say.


    Digital banking to gain a foothold in Indonesia in 2021

    By Khamila Mulia

    20 Jan 202101:05 AM

Most PopularMost Popular

See All