Finch Capital Leads Pintek's Follow-on Funding
The total funding has reached 70 billion Rupiah
Education-focused p2p lending platform Pintek announced undisclosed follow-on funding led by Finch Capital. Accion Venture Lab, as the previous investor in pre-Series A also involved in this round. There were several other investors involved without being mentioned.
It is said that the total funding that Pintek has received with this round has reached $5 million (over 70 billion Rupiah). The fresh fund will be used to develop products and technology, as well as continue education so that Indonesians are familiar with education loans.
Pintek's Co-Founder and SoCap's CEO, Ioann Fainsilber said, during the Covid-19 pandemic, Pintek services experienced strong growth with revenue increasing by 12 times from the beginning of the year to September 2020, compared to the same period last year.
He said, this growth validates the company's proposition to drive the entire education ecosystem, finance students, educational institutions, and suppliers of educational needs. "We have also adapted Pintek services to the needs during the pandemic, such as helping schools to finance digitalization and running an effective online learning environment," Fainsilber said in an official statement, Tuesday (12/1).
Fainsilber continued, collaboration with investors such as Finch Capital and Accion Venture Lab will enable companies to develop teams, build platforms that provide smart financial solutions for better education, and enable inclusive and high-quality education for all Indonesians.
Managing Partner of Finch Capital Hans De Back also gave his statement, "We hope that Pintek will become a comprehensive solution for all needs from the perspective of students, educational institutions, to other educational supply companies. We are very pleased to have supported Pintek since his first term and are now moving into the next phase of growth," he said.
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