1. Startup

Koinworks to Cast More Institutional Lenders, Focusing to Serve SMEs

As of the second quarter of 2021, KoinWorks has disbursed more than 1 trillion Rupiah of productive loans to 300 thousand SMEs

Lendable pours another debt funding to KoinWorks. In 2020, the funds given were worth $10 million (equivalent to 149 billion Rupiah), the nominal has currently increased to $30 million or around 435 billion Rupiah. In Indonesia, Lendable also disbursed a similar loan to Amartha in February 2021 valued at 704 billion Rupiah.

Previously in April 2020, KoinWorks also announced the debt funding from two Europe-based financial institutions. As we contacted, the company refused to reveal its identity. In an interview, KoinWorks' Co-Founder & CEO, Benedicto Haryono did say that collaboration with institutional lenders is one of his strategies, both from domestic and foreign institutions.

He explained that the company had obtained institutional lenders since early 2018, marked by the entrance of Saison Modern Finance. Furthermore, Bank Mandiri followed in the middle of the year. In 2019, Sampoerna and CIMB Niaga also joined.

Focused on SMEs

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