Miguel Cordon · · 1 min readModalku co-founder steps down after 8 years of service
Modalku’s exiting exec Iwan Kurniawan / Photo credit: Modalku
Iwan Kurniawan, co-founder of peer-to-peer lending platform Modalku, has left his role in the firm to “take a career break to explore my passions,” he wrote in a LinkedIn post.
He has been with Modalku for almost eight years, having helped the firm with its expansion in Indonesia and its entry into Thailand. Kurniawan said that during his time with the company, Modalku facilitated over US$3 billion in financing to more than 90,000 small businesses.
Kurniawan also sat at the board of
Modalku, which was founded in 2015 by Kurniawan, Kelvin Teo, and Reynold Wijaya, aims to provide access to affordable and reliable credit for small businesses, which are often overlooked by traditional financial institutions. The company runs under the Modalku name in Indonesia and under the Funding Societies brand in Singapore, Malaysia, Thailand, and Vietnam.
In January, Funding Societies raised an undisclosed amount of capital from Khazanah Nasional and CGC Digital to aid its expansion in Malaysia.
See also: Funding Societies posts 84% revenue jump in 2022 as losses grow
Editing by Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
