Bank BTN Gandeng MCI Forms BTN Fund

PT Bank Tabungan Negara (Persero) Tbk cooperates with PT Mandiri Capital Indonesia (MCI) to form a funding program titled BTN Fund. Through BTN Fund, Bank BTN can invest in startups engaged in property and other related industries to boost the housing sector in the country.

Bank BTN Risk Management Director Setiyo Wibowo said the collaboration would complement the company's digital-based housing ecosystem. In addition, added Setiyo, the partnership is also an effort to increase Bank BTN's capacity in the housing sector in the midst of the 0 percent tax stimulus momentum for houses below Rp. 2 billion from the Government.

This collaboration is also our means to help potential startups, especially in the property sector to grow with Bank BTN. Of course, the formation of BTN Fund is expected to create demand, expand market share, and open a new segment for Bank BTN in providing end-to-end solutions in the housing sector," explained Setiyo on the sidelines of the signing of the Cooperation Agreement (PKS) at the BTN Tower, Jakarta, Wednesday, December 6.

Meanwhile, through this partnership, Bank BTN cooperates with MCI as the manager of BTN Fund funds. In addition to providing funding for startups in the property sector, BTN Fund is also designed to invest in other startups that are in line with Bank BTN's business. Among them, proptech, mortgage tech, fintech, embedded finance, construction technology, open finance, SaaS, and other strategic sectors.

According to Setiyo, the housing sector in Indonesia has a great opportunity to grow. This potential, said Setiyo, is shown from the housing backlog in Indonesia which reaches 12.7 million units. The backlog number also continues to grow because the number of marriages every year reaches 1 million marriages.

Setiyo melanjutkan kenaikan di sektor properti mulai terlihat dari harga rumah yang mulai meningkat sejalan dengan penambahan permintaan akan hunian.

"We believe that various industries derived from property, including startups, have also been boosted from these opportunities and increases. Of course, investment will continue to consider several criteria for companies that will be targeted for funding so that this investment will continue to benefit in the future," said Setiyo.

On the same occasion, MCI Investment Director Dennis Pratista is targeting funding potential startups.

"This collaboration also marks the form of MCI's commitment to support BUMN collaboration with selected startups that can support Bank BTN's business," said Dennis.