Indonesian Fintech Company Pintek Receives Pre Series A Funding from Global Founders Capital

Funding will be distributed to improve the tech platform and commercial team

Prayogo Ryza - 11 November 2019

Pintek, a fintech company with funds solution to education, announced Pre Series A funding without revealing the number led by Global Founders Capital (GFC). This was well received by Pintek's parent company, SoCap. The company plans to use the fresh money to improve the technology platform and its commercial team.

In specific, they offered solutions for those in need of loans related to educational issues. GFC as the lead of this round sees something captivating on the company's journey to grow in the future.

"We expect to work with Pintek team in their mission to facilitate better access for millions of Indonesian people. Pintek has identified holistic approach for educational costs, partners with academic institutions, and we're glad to be able to support the new phase of the company's growth," GFC's Partner, Tito Costa said.

Also participated in this round, the previous investors, Finch Capital and Amand Ventures. Finch Capital's Managing Partner, Hans De Back said that they're glad to be a part of Pintek, seeing the big potential it holds to bridge the gap between the formal and non-formal education.

"We find it equally important for education to be financially inclusive and accessible to public," he added.

Pintek, valid since 2018, has partnered up with nearly 100 academic institutions and distributed educational loans in 22 Indonesian provinces.

"Pintek is having explosive growth, especially after the funding round earlier this year. From May to October, users are increasing 20 times up with default rate under 1%. We need to grow our team to keep up with the user's demand and to expand our products. We're going to double up our technology and commercial teams in the next quarter," Co-Founder of SoCap and Pintek, Ioann Fainsilber said.

Original article is in Indonesian, translated by Kristin Siagian

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