Finfra, a Jakarta, Indonesia-based lending infrastructure provider, raised $2.5M in funding.
The round was led by Cento Ventures, with participation from Accion Venture Lab, Z Venture Capital, Matiss Ansviesulis (founder of Avafin), and existing investors.
The company intends to use the funds to expand onboarding capabilities for its customer pipeline, and to enhance its data analytics, scoring, and risk assessment products.
Led by CEO Markus Prommik, Finfra is a provider of an API-driven platform that offers a complete loan management system, credit scoring, portfolio analytics, and access to debt capital, enabling non-financial platforms to generate new revenue streams and enhance user engagement. The company’s affiliate works closely with the Indonesian Financial Services Authority (OJK) to ensure full regulatory compliance, supporting sustainable growth and transforming the lending landscape for businesses and communities alike.
Finfra also announced a major partnership with Tyme Group, the multi-country digital banking group behind TymeBank in South Africa and GoTyme Bank in the Philippines. The partnership will support the expansion into the country as part of its broader Southeast Asia growth strategy, following the launches in the Philippines and Vietnam.
With this funding round, the company has raised a total of $4.3m to date. Since its last fundraise, Finfra has doubled its client base and expects to more than double its quarterly gross profit in Q4 2024 compared to Q4 2023. To date, the company has facilitated over $65 million in credit to underserved Indonesian businesses and business owners. Customers also include Indonesia’s technology scaleups GoCement and Mekari.
FinSMEs
29/10/2024