Amartha Bags 450 Billion Rupiah Funding Led by WWB Capital Partners II and MDI Ventures

The p2p lending startup Amartha officially secured funding of $28 million or around 450 billion Rupiah. The funding was led by Women's World Banking (WWB) through WWB Capital Partners II and MDI Ventures, also the two previous investors, Mandiri Capital Indonesia and YOB Venture Management.

Amartha's Founder & CEO, Andi Taufan Garuda Putra said the new investment will be used to strengthen the business, accelerate product innovation development, and introduce additional services for borrowers and lenders. Some of them include shop loans, crowdfunding, and direct funding to borrowers.

So far, the company has developed solutions for three user segments, namely disbursing funding through the p2p lending platform (Amartha for Lenders), a field team to process business capital loans as a whole (Amartha for Business Partners), and other financial services in addition to distributing business capital ( Amartha for Partners)