Indonesia’s Investree nets up to $231m in series D, enters Middle East

Photo credit: Investree

Indonesian online lending company Investree is set to secure series D funding of up to 220 million euros (US$230.8 million) through the establishment of a joint venture (JV) in Doha.

Investree has set up the JV with JTA International Holding, which leads the funding round with participation from existing investor SBI Holding. The resulting entity, called JTA Investree Doha Consultancy, will act as the Middle Eastern hub for the Indonesian company to offer digital lending services to SMEs, which includes an AI-based credit scoring service.

This round would bring Investree’s total disclosed funding to almost US$280 million.

Funding details

• Funding amount: US$230,800,000
• Lead investors: JTA International Holding
• Other investors: SBI Holdings
• Stage: Series D
• Source

It’s unclear whether Investree has received the full funding amount. Tech in Asia has reached out to the company for comment.

Founded in 2015, Investree offers four lending products for MSMEs: invoice financing, working capital term loans, buyer financing, and micro productive loans. As of this month, the company claims to have disbursed about US$916.3 million in loans.

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Last year, the company acquired an 18.4% minority stake in Amar Bank, an Indonesian commercial and digital bank backed by Singapore-headquartered conglomerate Tolaram.

Investree’s last funding round was a US$10 million raise from ResponsAbility Investments, a Switzerland-based asset manager, to enable the financing needs proposed by SMEs within the online lender’s ecosystem in 2021. Aside from its native Indonesia, Investree also operates in Thailand and the Philippines.

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