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Tinuku ~ elegantly launches financial services reach Unbankable customers without grace. Fintech peer-to-peer lending is increasingly hitting the weakness of conventional banks, the startup owned by Mitra Usaha Indonesia Group launch Merchant Cash Advance (MCA) to facilitate unbankable capital.

Tinuku Modalku lends money to unbankable borrowers

Co-Founder and COO Modalku Iwan Kurniawan said their company does have a vision to develop micro, small and medium entrepreneurs including e-commerce merchants that previously could not be served by conventional financial institutions.

Modalku, in English "My Capital", launches Merchant Cash Advance (MCA) for anyone to gain access to quality loans without grace. Underbanked financial inclusion services and online merchants allow for customer extension.

"The repayment process becomes easier for the borrower. MCAs as loan products and investment alternatives are also very potential for lenders. Modalku is proud to be the first fintech platform in Indonesia that provides MCA," said Kurniawan.

Kurniawan said Modalku cooperates with payment gateway service to provide MCA as short term loan. The payment gateway will hold a portion of the borrower's revenue and distribute it to Modalku.

"So far, small-scale entrepreneurs are the backbone of the Indonesian economy with a contribution of 60 percent of the country's revenues and 97 percent of the national workforce. Access to loans for this segment will be more open," said Co-Founder and CEO of Modalku Reynold Wijaya.

Through this service, small entrepreneurs have the opportunity to get financing from mutually reunited investors through the digital market. So far, Modal claims to have disbursed a business loan of more than Rp181 billion to about 320 borrowers from small businesses.


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