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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

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    • 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

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