Skip to main content noted lending rose 50 percent in May

Get updates direct: Subscribe via email
Tinuku ~ Peer to peer lending online platform exposed 50 percent increase in May. The startup marketplace of fintech Investree Radhika Jaya or Investree bringing borrowers with online lenders recorded a significant increase in lending of Rp190 billion (about US$15 million) to customers in May 2017.

Tinuku Investree noted lending rose 50 percent in May

"In May we had more than 50 percent increase, we usually have 30 percent month-on-month increase per month," said Adrian Gunadi Chairman and Co Founder Investree.

Gunadi said that until May 2017 Investree has distributed loans to customers of Rp190 billion and hopes the increase in lending will continue to rise. The company targets lending to grow by Rp30 billion, while by the end of this year it targets a loan of up to Rp400 billion.

This fintech startup comes as a marketplace to bring borrowers to online lenders with a peer-to-peer lending scheme. Investree does not manage funds, but only brings the borrower to the lender like a shop.

Business actors or individuals may apply for working capital loans by pledging the invoices of their clients as a source of loan repayment. The lending invoice will be paid by a lender client called a payer.

"The invoicing process occurs when the work is done," Gunadi said.

Investree was founded by Gunadi, Aida Sutanto, Amiruddin and Kok Chuan Lim. It has received A-Series funding from Mountain Kejora Ventures at an unspecified value. Previously, startup that pioneered since 2014 is operating in bootstrap.

Mountain Kejora Ventures is also known to have invested in a number of startups are CekAja, Qerja, Etobee, Jualo, and others. Gunadi said Investree will enrich the landscape of financial institutions in Indonesia.

"We do not close the possibility in the future in collaboration with the bank. For banks to open branches is not cheap and we provide online platform," said Gunadi.


Popular posts

Denso, Ericsson, Intel, NTT DoCoMo and Toyota build big data

Alibaba's profit doubled for second quarter this year

Gesits electric motorcycle setup 100,000 units in 2018

China established first cyber-court in Hangzhou

Future Mobility setup electric cars hit global markets 2019