Amartha, Former President Jokowi's Staff Company, Receives IDR 405 Billion In Fresh Funds

CEO and Founder of Amartha Andi Taufan Garuda Putra. (Photo: Facebook Andi Taufan Garuda Putra)

JAKARTA - The peer-to-peer lending financial technology (fintech) company PT Amartha Mikro Fintek is known to have just received new funding worth $ 28 million or the equivalent of IDR 405 billion.

The fresh funding support came from several consortia, namely MDI Ventures, Mandiri Capital Indonesia, UOB Venture Management led by Women's World Banking Capital Partners II (WWB).

CEO and Founder Amartha Andi Taufan Garuda Putra said this step will further strengthen the company's business based on group lending.

"We also project that we can accelerate product innovation, and launch additional services for borrowers and lenders, such as village digitization, wholesale shopping, shop loans, crowdfunding, new funding products, and direct channeling of funding to borrowers", he said in an official statement, Monday 3. May.

Andi added, the current pandemic provides its own challenges and dynamics in economic activities.

"Through collaboration and cooperation, we choose to continue to help society by building a variety of products and services for the micro-business sector", he said.

For information, Andi Taufan Garuda Putra was noted to have been trusted by President Joko Widodo (Jokowi) as a special staff, before he resigned in April 2020.

PT Amartha was founded in 2010 and is a pioneer of fintech lending in Indonesia. In its activities, this company empowers women micro-entrepreneurs in rural areas by providing group-based business capital loans, ranging from IDR 3 million to IDR 10 million, accompanied by financial literacy education and entrepreneurship training.

To date, PT Amartha has disbursed more than IDR 3.55 trillion in loans to more than 661,369 ultra-micro entrepreneurs in more than 18,900 villages in Java, Sumatra, and Sulawesi.