p2p

We peer past the impressive-looking numbers to see what makes Singapore-based Surfin tick, the trade-offs it makes, and why investors are backing it.

In February, Bank Jago announced it would offer direct lending to customers. Other digital banks are following suit.

In The Top Up this week, we look at the rise of the Philippines’ GoTyme Bank and dive into the rebranding of Indonesia’s iGrow.

The SMEs lender said it wants to expand into payments with a leaner organizational structure.

Former retail lenders at the Indonesian agricultural financing startup are said to have suffered losses amounting to around US$33.4 million.

The Indonesian startup said it has disbursed over US$800 million in working capital loans to 1.6 million MSMEs, most of which are women-led.

The Indonesian fintech firm aims to process US$8 billion in deposits and loans and generate US$240 million in yearly revenue in the next five years.

The Indonesian peer-to-peer lender’s payment success rate has been steadily declining since 2022.

AdiWisista’s P2P lending platform, Danai.id, provides loans to small businesses and individuals in Indonesia.

The POJK 10 regulation requires new online lenders to have US$1.6 million in paid-up capital – 10x higher than the amount in the old POJK 77 rule.