The Business Times
business-time-50
Asean Business logo
SPONSORED BYUOB logo

Indonesia’s fintech microfinance marketplace Amartha aims to bridge funding gap for MSMEs

It is building a marketplace for microloans by working directly with rural banks and financial institutions

google-preferred-sourceAdd BT as a preferred source
    • Amartha CEO Andi Taufan (centre) with Fitriawati, who sells salted fish in Koto Tangah, Padang, West Sumatera; 99 per cent of Amartha's borrowers are women who run small shops and often need working capital.
    • Amartha CEO Andi Taufan (centre) with Fitriawati, who sells salted fish in Koto Tangah, Padang, West Sumatera; 99 per cent of Amartha's borrowers are women who run small shops and often need working capital. PHOTO: AMARTHA

    Shoeb Kagda

    Published Thu, Aug 8, 2024 · 03:09 PM

    INDONESIA’s microfinance tech company Amartha is hoping to tackle the country’s under-funded micro, small and medium-sized enterprises (MSMEs) by tying up with rural banks and financial institutions to lower risks and manage loan portfolios.

    “We are building a funding gateway model that connects banks and MSMEs. Today, we serve more than 30 banks across Indonesia,” Andi Taufan, the 37-year-old chief executive officer and founder of Amartha, told The Business Times.

    Founded in 2010 as a microfinance institution, Amartha transitioned to a technology company in 2016. From an initial base of just 7,000 borrowers, Amartha now serves more than two million borrowers and continues to grow.

    IndonesiaFintech

    TRENDING NOW

    Eugene Lai (left) says that he was sharing a view with Tan Chian Khong that the board needed a refresh and that it was not an explicit direction to resign.

    CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh

    The Open category COE rose S$2 to S$129,002.

    Cat A COE rate exceeds Cat B for third time in 4 months; premiums largely down

    Siranudh Scott had caused an internet sensation with a video accusing his brother of allegedly abusing him during his childhood years.

    ‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse

    The suspension at Manulife comes amid a broader, coordinated crackdown on cross-border wealth channels.

    Manulife pulls loan product for rich Hong Kong clients after scrutiny

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More