P2P investors fret as iGrow’s credit issues compound

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Hello reader,

Peer-to-peer (P2P) lending has become a slippery slope for the online agriculture financing companies of Indonesia, Southeast Asia’s largest economy.

Agriculture-focused P2P platforms Tanijoy and TaniHub are currently in hot water with lenders. The former is grappling with allegations of fraud, while the latter has angered lenders for the bad loans that have come with failed harvests and postponed payments.

Now, iGrow has joined the fray, with the LinkAja-owned company experiencing bad-credit issues that could turn P2P investors’ discontent into legal proceedings.

In today’s premium story, my colleague, Budi, breaks down the prevalent underlying issues at iGrow and brings to the fore P2P investors’ suspicions about the firm’s TKB90 – its payment success rate on the 90th day.

Further, he uncovers a host of grievances that these P2P investors face – ranging from the late return of investment funds to insurance that does not fully protect their interests. Read on to find out more about the finer details in the brewing battle at Indonesia-based iGrow.

Today we look at:

• IGrow’s sprouting credit issues
• InsuranceDekho’s US$150 million series A round
• Other newsy highlights such as the largest series A funding in India’s drone sector.

— Shravanth

P.S.: If you’re an entrepreneur looking for funding, fill out this form to get your company featured on our list of fundraising startups.

Premium summary

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IGrow is no small business and the impact of its credit issues – if not well-managed – will be felt by thousands of stakeholders. With the promise to return 12% to 18% for each project, to date, the agriculture financing startup has pooled together over US$22.6 million from 7,000 lenders and disbursed the funds to over 10,000 recipients.

In the name of insurance

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