Amartha Gets 100 Million US Dollars Of Fresh Funds From CIM

Illustration (Photo: Doc. Antara)

JAKARTA - PT Amartha Mikro Fintek (Amartha) announced a strategic collaboration with the Community Investment Management (CIM), an institution providing capital from San Francisco that focuses on social impacts.

Through this collaboration, Amartha received funding worth 100 million United States (US) dollars which will be distributed as productive capital for MSMEs in Indonesia.

Chief Financial Officer Amartha Ramdhan Anggakaradibrata said Amartha's election as a CIM partner was motivated by the similarity of value in presenting inclusive financial services based on sustainability principles.

CIM acts as a social impact investor, who is committed to fulfilling the European Sustainable Finance Disclosure Regulation (SFDR), which is a regulation that applies in Europe for the provision of sustainable financial services.

"We are proud to be partnering with CIM in accelerating the distribution of capital for grassroots MSMEs in Indonesia," he said in a written statement, Monday, June 19.

He hopes that this collaboration can move other institutions to join Amartha in advancing Indonesian MSMEs through financial access.

CIM Head of Emerging Market Strategy Bernhard Eikenberg said this collaboration is an important milestone for CIM in Southeast Asia which is committed to supporting MSME digital financing in Indonesia.

"We believe that MSMEs are the backbone of various economic sectors and are the segments that experience the biggest gap in the financial sector. The CIM partnership with Amartha will grow a responsible and transparent product ecosystem that advances financial inclusion and improve people's financial health in Indonesia," he explained.

Just so you know, cumulatively, Amartha has distributed capital worth more than IDR 12 trillion to more than 1.6 million MSMEs in Indonesia and has been profitable since the last three years.

Amartha applies the principle of ethical lending in carrying out business operations, namely the principle that ensures that every service for MSME partners is carried out with good ethics and transparent.

"This principle is also the reason for CIM to appoint Amartha, because CIM complies with social loan principles regulations that prioritize integrity and transparency in financial services," continued Bernhard.