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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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.
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