Gabriel Budi Sutrisno · · 2 min readID fintech firm Amartha raises $100m from US debt provider
Photo credit: Amartha
Amartha, an Indonesian peer-to-peer lending platform, has secured US$100 million from Community Investment Management (CIM), a US-based debt provider.
The company said that the funding will be channeled as working capital loans for MSMEs in Indonesia. According to a statement, it has disbursed over US$800 million in working capital loans to 1.6 million businesses, most of which are women-led.
Funding details
- Funding amount: $100,000,000
- Investor: Community Investment Management (CIM)
- Stage: Debt
Founded in 2010, Amartha almost collapsed before pivoting from conventional microfinance to peer-to-peer lending in 2016. The company said it has been profitable for the last three years.
In 2019, CEO Andi Taufan Garuda Putra was assigned by President Joko Widodo as his special staff member but Putra resigned shortly after.
Amartha previously raised US$85.5 million across multiple rounds, including US$50 million from UK-based Lendable, according to Tech in Asia data.
See also: Fresh off $110m raise, Lendable eyes ‘huge opportunity’ among SEA fintech firms
More details
Amartha→
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