Business & Economy Startups Indonesia’s P2P lending platform KoinWorks secures Series A funding from Quona Capital

Indonesia’s P2P lending platform KoinWorks secures Series A funding from Quona Capital

Author

Date

Category

- Advertisement -

Quona Capital is the international venture capital firm that focuses on fintech with a financial-inclusivity mission

Indonesian Peer-to-peer (P2P) lending platform, KoinWorks, just announced its latest Series A funding raised from the international fintech-focussed venture capital firm Quona Capital.

KoinWorks made for Quona Capital’s first fintech investment in Indonesia, inking the deal just after the startup reached a total of 100,000 investors.

“We are thrilled to collaborate with Quona as its mission is to back fintechs that truly works to make differences in society and to achieve inclusivity in finance,” said Benedicto Haryono, CEO dan Co-Founder KoinWorks.

- Advertisement -

Also Read: Southeast Asia-based VC ATM Capital makes first close of new US$200M fund

Quona Capital and KoinWorks are forming a joint collaboration, sharing the same mission of championing technology as a means to improve the quality, access, and reach of financial services for those overlooked by traditional banks.

So far, Quona Capital has backed financial inclusivity focussed startups in Latin America, Africa, the UK, and Asia.

According to the 2017 Global Findex database, Indonesia accounts for 33 per cent of the underserved population in terms of financial services. As shared in the Wave 3 Report FII Tracker Survey — conducted by InterMedia and the Bill & Melinda Gates Foundation — only 26 per cent of Indonesians meet the global financial services standard.

KoinWorks’ recent innovation includes a RoboLending feature that allows investors to fund companies without having to shadow and to choose which business they want to support. RoboLending does the work of deciding based on portfolio and investment returns.

Also Read: Singapore IoT startup Overdrive raises US$2.9M Series A from Tin Men Capital

Before this fresh funding, KoinWorks has been backed by Mandiri Capital Indonesia, Gunung Sewu, and Convergence Capital, all in 2018.

Image Credit: KoinWorks

The post Indonesia’s P2P lending platform KoinWorks secures Series A funding from Quona Capital appeared first on e27.

Source: E27

Send in your scoop to news@theindependent.sg 

- Advertisement -

Journalist claims Karen Mok is the only woman Stephen Chow has ever thought of marrying

Hong Kong -- Last year, comedian Stephen Chow's public and ugly legal battle with his former girlfriend over their finances gave a rare peek into the personal life of the fiercely private 58-year-old. It was reported that out of all the women...

Goh Chok Tong says that as true friends with Tan Cheng Bock, “we will always have each other’s best interest at heart”

Despite a relationship that seemed to be fraught with political tension from the past year, Goh Chok Tong and Tan Cheng Bock met for dinner over the weekend. On Friday (Feb 19), former Emeritus Senior Minister (ESM) Goh posted on social media...

Prank orders in Joo Seng affects at least 12 delivery riders, police investigating incident

Singapore – The police are investigating a case of "intentional harassment" involving Foodpanda delivery orders sent to a Housing and Development Board (HDB) flat in Joo Seng after a resident highlighted a case of "prank orders" in social media. On Friday (Feb...

Send in your scoop to news@theindependent.sg 

Theindependent