Fintech Made By Astra Sets A Target To Distribute IDR 500 Billion In Financing

Illustration of Rupiah currency. (Photo: Doc. Antara)

JAKARTA - The peer-to-peer lending financial technology (fintech) company PT. Astra Welab Digital Arta (AWDA) with its products Maucash is targeting disbursement of financing up to IDR 500 billion by the end of this year.

AWDA President Director Rina Apriana said that to realize this, her party collaborated with PT. Cerita Teknologi Indonesia through its Restock product to deepen its main market share, namely the MSME segmentation.

"In this partnership, Restock's added value for us is to improve good risk management and healthy business growth," she said in an official statement as quoted by VOI on Sunday, February 28.

Rina added that her party is committed to actively supporting the improvement of financial literacy in the form of multipurpose and productive loans and providing the best products and services for the community.

"We hope that the cooperation between Maucash and Restock can serve the wider community and strengthen the growing digital economy in Indonesia," she said.

On the same occasion, President Director of Restock Muhammad Farid Andika hopes that there will be more collaborations like the one currently doing with Maucash.

"Given that MSMEs are the main support for the country's economy in times of crisis, we want it to be a solution for businesses that are not yet connected to the financial ecosystem, especially for growing online entrepreneurs," he said.

For information, PT. Astra Welab Digital Arta (AWDA) is a subsidiary of PT. Astra International Tbk.

Since November 2020, the cooperation between Restock and Maucash has resulted in financing reaching a total of IDR 4.3 billion as of February 10, 2021.

Maucash itself is an Information Technology-Based Lending and Borrowing Service (LPMUBTI) which has obtained the OJK license on September 30, 2019, through the OJK decree KEP -84/D.05/2019. The company claims that Maucash has been downloaded by 5.6 million subscribers and has channeled funds of IDR 1.1 trillion to 365,000 debtors.

Meanwhile, Restock.ID is one of the companies in Indonesia that provides a Peer-to-Peer Lending platform that is registered and supervised by the Financial Service Authority (OJK) as of August 7, 2019.