Aditya Hadi Pratama · · 1 min readSharia fintech firm secures $30m debt facility from Lendable
Alami, an Indonesia-based sharia fintech firm, has secured a debt facility worth US$30 million from Lendable. Alami plans to disburse the money to SMEs across Indonesia.
The facility marks the first sharia-compliant financing that Lendable has provided.
(From left) Alami co-founders Harza Sandityo, Dima Djani, and Bembi Juniar / Photo credit: Alami
Founded in 2018, Alami is an online lender that focuses on the halal industry, worth an estimated US$2.2 trillion globally in 2019. The market is poised to hit US$3 trillion in value by 2023.
“We pray that this deal can accelerate the development of Indonesia’s halal industry, which is also in line with the government’s current vision,” said Alami’s chief executive Dima Djani.
Djani established the firm with Harza Sandityo and Bembi Juniar.
The company has disbursed over US$145 million in funds to over 8,500 SMEs and maintains a non-performing financing rate of zero. Following the latest deal, Alami plans to at least double its loan disbursement. In March 2021, the company expanded into digital banking by acquiring a sharia-based rural bank BPRS Cempaka Al Amin and rebranding it as Bank Hijra.
See also: A new digital bank could instill VC faith in Indonesia’s sharia fintech
Editing by Deepti Sri and Arpit Nayak
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