Amartha, an Indonesian P2P lending platform focused on women micro-entrepreneurs, has raised US $ 28 million from the Women’s World Banking Capital Partners II Fund and MDI Ventures.
Mandiri Capital and UOB Venture Management also participated.
It comes out of Amartya’s US $ 50 million debt financing round from US-based Landable in February this year.
The latest round of investment will be used to strengthen Amartha’s community-based lending business and further develop its product.
Headquartered in Jakarta, Amartha provides women micro-entrepreneurs in rural areas the search for working capital and connects them with lenders.
Also read: Series B funding led by Li Chen Ventures, Indonesian P2P lending startup Amartya to increase lending capacity across the country
Amrita founder Andy Storm Garuda Putra said, “Beyond lending, we have other services like Amart for Business Partners to encourage offline-to-online transactions.
“We also have Amartha Plus which empowers communities with group buying, where we connect them to e-commerce platforms so that they can shop more easily and get more affordable prices. In addition, we will launch Amartya Score, where we digitally build the credit history of our partners, which makes it easier for them to get other financial services, ”he said.
So far, it operates in more than 18,600 villages within Indonesia, including Java, Sumatra and Sulawesi.
The company claims to have helped more than 600,000 women-entrepreneurs obtain loans of up to US $ 240,000.
Toufan also told TechInAsia The company has been cash-flow positive since last year and is expected to impact profitability this year.
join our e27 Telegram Group, Fb community, Or like e27 Facebook page
The post Amartya made US $ 28M for the first time on E27 with working capital to empower rural Indonesian women.