Aditya Hadi Pratama · · 1 min readIFC joins $8.5m round of ex-Gojek execs’ fintech firm
Indonesia-based fintech startup AwanTunai has raised around US$8.5 million in series A3 funding from the World Bank’s International Finance Corporation (IFC), as well as from existing investors such as Global Brain and Insignia Ventures Partners.
AwanTunai CEO Dino Setiawan told Tech in Asia that IFC poured US$5 million into the deal. “We also raised debt funding from a bank,” he added.
VentureCap Insights pegged the firm’s valuation at around US$57 million.
AwanTunai co-founders (from left) Rama Notowidigdo, Windy Natriavi, and Dino Setiawan / Photo credit: AwanTunai
AwanTunai is a fintech lender that focuses on providing loans to grocery suppliers and traders in the country. Setiawan, alongside ex-Gojek executives Windy Natriavi and Rama Notowidigdo, founded the firm in 2017.
In August 2021, AwanTunai raised US$11.2 million in equity funding. It also raised more than US$45 million in debt funding from Accial Capital and Bank OCBC NISP.
At that time, the company said that it had helped over 8,000 merchants purchase inventories from more than 160 suppliers and apply for loan facilities through its platform.
See also: Series SEA: Who’s investing in the region’s fintech startups?
Other investors in the current round include:
- Benchmark Advantage Fund
- OCBC NISP Ventura
- Ho Swee Chun
- Battery Road Digital
Editing by Miguel Cordon and Lorenzo Kyle Subido
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