AwanTunai Grabs Over 811 Billion Rupiah in a Form of Equity and Loan

Fintech lending startup AwanTunai confirmed the series A2 funding that the company had obtained amounting to $56.2 million (more than 811 billion  Rupiah) in the form of equity and loan facilities. Equity funding of $11.2 million was provided by BRI Ventures and OCBC NISP Ventura as new investors, participated also Insignia Ventures and Global Brains as previous investors.

Meanwhile, a loan facility of $45 million was provided from Accial Capital and Bank OCBC NISP. This is a top up loan provided from the bank which has disbursed a facility worth more than $45 million.

In an official statement delivered today (27/8), AwanTunai's CEO, Dino Setiawan said this fresh funding will be used to finance the company's domestic expansion, therefore, more micro MSMEs are empowered with fast and affordable access to financing.

He continued, the company is currently building a data infrastructure for digitizing online inventory purchase transactions. The data is effective for credit risk management and opens up opportunities for micro MSMEs that previously had minimal access to working capital from banking institutions already partnered with Awan Tunai.

"We expectAwanTunai to become a platform that allows the banking industry to reach millions of traditional MSMEs that previously had difficulty obtaining services," he said.

As a new investor in this round, BRI Ventures provide a statement. BRI Ventures' CEO Nicko Widjaja said, AwanTunai has a customer profile similar to Bank BRI. By empowering micro merchants, they have supported small businesses maintain and grow their businesses in these difficult times.