Tag: Debt Venture

Debt Funding Scheme Is Thriving, Amartha Scored 704 Billion Rupiah from Lendable

The p2p lending startup Amartha today (24/2) announced the debt funding of $50 million or the equivalent of 704.4 billion Rupiah (exchange rate USD to IDR per 14.00 WIB) from Lendable. It is to focus on providing capital and financial access to small entrepreneurs empowered by women in Indonesia, in conjunction with the “2X Challenge” initiative.

Through this collaboration, Amartha is also the first company in Indonesia to receive 2X Challenge funds. Particularly in the Asia Pacific, this funding initiative for women micro-merchants has disbursed up to $747 million.

Amartha does have further concern for women entrepreneurs. As Andi Taufan Garuda Putra said as Founder & CEO, women are the drivers of the micro economy which plays an important role in the recovery of the national economy.

The women micro-entrepreneurs segment with limited access to banking and financial institutions in Indonesia is estimated to reach more than 22 million people. By providing access to capital and entrepreneurship education for women, Amartha noticed that Mitra Amartha can increase income 2 to 7 times in one year.

“We are grateful for Lendable’s trust in realizing the 2X Challenge in Indonesia, therefore, women can increase their role in the Indonesian economy, especially in the context of post-pandemic recovery,” Taufan said.

The combination of retail and institutions

In a separate interview, Taufan said that they currently had channeled funds of up to 3.22 trillion to 616 thousand partners in Java, Sulawesi, and Sumatra. The combination of retail (community) funding and institutions also encourage the performance and penetration of Amartha’s services.

“On a year-on-year basis, the comparison is 55 percent for institutions and 45 percent for retail. For retail lenders, 68% is dominated by the millennial generation, followed by 19% by generation X, 10% by generation Z, and 3% by baby boomers. Based on the amount of funding value, 44% is dominated by generation X, then 40% by the millennial generation, 10% by baby boomers, and 3% by generation Z,” Taufan explained.

Regarding institutional partners, Amartha has also collaborated with banks and financial institutions to distribute funding with channeling schemes including Bank BRI, Bank Mandiri, Bank Jatim, Bank Permata, Bank Ganesha, Indosurya, and so on.

Targeting female micro-entrepreneurs certainly provides a higher level of risk (return). It becomes interesting to know Amartha’s strategy in increasing the percentage of TKB90 on the platform.

“Amartha has tightened monitoring of portfolios, operations, risks, and audits. This aims to screen the best quality Partners while maintaining the quality of ongoing loans. In addition, Amartha has updated the credit scoring system and combines the ability and willingness assessments, and a history of payment returns before the Covid-19 pandemic,” Taufan added.

Amartha also provides direct business assistance by the field team, including providing training on business alternatives for partners whose businesses have been affected by the pandemic, therefore, they can start new businesses or expand their businesses. It is said that these efforts are able to make the business climate in Amartha’s partner ecosystem return to the way before.

Debt funding in Indonesia

Previously last year Lendable also joined as an institutional lender for KoinWorks, channeling $10 million in funds. Apart from Lendable, there are several other institutions that also provide similar funds for fintech lending in Indonesia, such as Accial Capital for Pintek, Cash Cloud, and Investree. In addition, there are GMO Payment Gateway (Investree), Partners for Growth (Kredivo), etc.

In fact, there are two schemes widely applied to channel funds from institutions, loan channeling and venture debt. The first scheme is intended for institutions such as banks to channel their credit funds to MSMEs through fintech lending. Many local banks have started announcing entrance into the fintech ecosystem through this partnership. The latest is BCA which distributes funds through iGrow.

Meanwhile, venture debt/debt funding is actually more strategic in nature, such as to finance operations and growth – generally entered along with equity funding from venture investors. However, some have also used the funds to be distributed.

Apart from those already mentioned, other fintechs that have received debt funding are Alami, Digiasia, Kredivo, Modalku, UangTeman, Akseleran, and People’s Capital.

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Original article is in Indonesian, translated by Kristin Siagian

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Skema Pendanaan Debt Terus Berkembang, Amartha Bukukan Dana 704 Miliar Rupiah dari Lendable

Startup p2p lending Amartha hari ini (24/2) mengumumkan perolehan pendanaan debt senilai $50 juta atau setara 704,4 miliar Rupiah (kurs USD ke IDR per 14.00 WIB) dari Lendable. Fokusnya untuk memberikan permodalan dan akses keuangan kepada pengusaha kecil yang diberdayakan oleh perempuan di Indonesia, bersamaan dengan inisiatif “2X Challenge”.

Melalui kerja sama ini, Amartha juga menjadi perusahaan pertama di Indonesia yang menerima dana 2X Challenge. Sejauh ini di Asia Pasifik, inisiatif pendanaan untuk pengusaha mikro perempuan itu sudah menyalurkan dana hingga $747 juta.

Amartha memang memiliki concern lebih kepada pengusaha perempuan. Disampaikan oleh Andi Taufan Garuda Putra selaku Founder & CEO, perempuan adalah penggerak ekonomi mikro yang memiliki peran penting dalam pemulihan ekonomi nasional.

Segmen perempuan pengusaha mikro yang tidak memiliki akses ke perbankan dan lembaga keuangan di Indonesia diperkirakan mencapai lebih dari 22 juta jiwa. Dengan memberikan akses permodalan dan pendidikan kewirausahaan kepada perempuan, Amartha mencatat bahwa Mitra Amartha dapat meningkatkan pendapatan 2 hingga 7 kali lipat dalam satu tahun.

“Kami bersyukur diberikan kepercayaan dari Lendable untuk mewujudkan 2X Challenge di Indonesia agar perempuan dapat meningkatkan perannya dalam perekonomian Indonesia, terutama dalam konteks pemulihan pasca pandemi,” ujar Taufan.

Kombinasi pendana ritel dan institusi

Dalam wawancara terpisah, Taufan menyampaikan, hingga saat ini mereka telah menyalurkan dana hingga 3,22 triliun kepada 616 ribu mitra di Jawa, Sulawesi dan Sumatera. Kombinasi antara pendana ritel (masyarakat) dengan institusi turut mendorong kinerja dan penetrasi layanan Amartha.

“Secara year on year perbandingannya 55% institusi dan 45% ritel. Untuk pendana ritel, 68% didominasi oleh generasi milenial, kemudian disusul 19% oleh generasi X, 10% oleh generasi Z, dan 3% oleh baby boomers. Berdasarkan besaran nilai pendanaan, 44% didominasi oleh generasi X, kemudian 40% oleh generasi milenial, 10% baby boomers, dan 3% generasi Z,” jelas Taufan.

Terkait mitra institusi, Amartha juga telah bekerja sama dengan perbankan dan lembaga keuangan untuk menyalurkan pendanaan dengan skema channeling di antaranya Bank BRI, Bank Mandiri, Bank Jatim, Bank Permata, Bank Ganesha, Indosurya, dan lain sebagainya.

Menyasar pengusaha mikro perempuan tentu memberikan tingkat risiko (pengembalian) yang lebih tinggi. Menjadi menarik untuk mengetahui strategi Amartha dalam meningkatkan persentase TKB90 di platformnya.

“Amartha telah memperketat monitoring portofolio, operasional, risiko, dan audit. Hal ini bertujuan untuk menyaring Mitra dengan kualitas terbaik, sekaligus mempertahankan kualitas pinjaman yang sedang berjalan. Selain itu, Amartha telah memperbarui sistem credit scoring dan menggabungkan penilaian kemampuan (ability), kemauan (willingness), dan histori pengembalian pembayaran sebelum adanya pandemi Covid-19,” imbuh Taufan.

Amartha juga memberikan pendampingan usaha secara langsung oleh tim lapangan, termasuk memberikan pelatihan alternatif usaha bagi mitra yang usahanya terdampak pandemi, sehingga mereka bisa memulai usaha baru atau mengembangkan usahanya. Diklaim, upaya tersebut mampu membuat iklim bisnis di ekosistem mitra Amartha kembali normal seperti sedia kala.

Pendanaan debt di Indonesia

Sebelumnya tahun lalu Lendable juga bergabung sebagai lender institusi KoinWorks, menggelontorkan dana $10 juta. Selain Lendable, ada beberapa lembaga lainnya yang juga memberikan dana serupa bagi fintech lending di Indonesia, misalnya Accial Capital untuk Pintek, Awan Tunai, dan Investree. Selain itu ada GMO Payament Gateway (Investree), Partners for Growth (Kredivo), dll.

Sebenarnya ada dua skema yang banyak diaplikasikan untuk menyalurkan dana dari institusi, yakni loan channeling dan venture debt. Skema pertama memang ditujukan bagi institusi seperti perbankan untuk menyalurkan dana kreditnya kepada UMKM melalui fintech lending. Banyak perbankan lokal yang mulai mengumumkan masuk ke ekosistem fintech lewat kerja sama ini. Terbaru ada BCA yang salurkan dana lewat iGrow.

Sementara venture debt/pendanaan debt sebenarnya sifatnya lebih strategis seperti untuk membiayai operasional dan growth – umumnya masuk berbarengan dengan pendanaan ekuitas dari pemodal ventura. Tapi tidak sedikit yang menggunakan dana yang diberikan untuk kembali disalurkan.

Selain yang sudah disebutkan, fintech lain yang sudah menerima pendanaan debt adalah Alami, Digiasia, Kredivo, Modalku, UangTeman, Akseleran, dan Modal Rakyat.

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