Employment platform raises US$16.7 million Series A round from Square Peg and Vertex Ventures
The funding will be used to enhance Pintarnya’s capabilities and expand financial services access in Indonesia
[SINGAPORE] Indonesia-based employment platform Pintarnya has raised a US$16.7 million Series A round.
The round was led by venture capital firm Square Peg, with existing investor Vertex Ventures participating.
The platform, which offers artificial intelligence-assisted matching and creates curriculum vitae for job-seekers in Indonesia, can also make job recommendations and file auto applications for jobs listed on the platform. Career-education classes to help job-seekers raise their skills level are also available on the platform.
Pintarnya, which also works for employers, can filter and rank candidates; an in-app communication tool is also available for hirers to get in touch with candidates. It now has more than 10 million users and 40,000 employers, offering more than 100,000 job openings on tap.
Henry Hendrawan, co-founder of Pintarnya, said: “As of today, our platform has successfully facilitated over eight million employment matches.”
Pintarnya also partners digital and traditional lenders to offer financial services to job-seekers, particularly workers with irregular income and limited access to banking services. Many such workers struggle to get loans because a credit-scoring model for this segment of individuals does not have enough data.
“Through the journey of building employment services, we discovered that our users needed more than just jobs – they needed access to financial services that traditional banks couldn’t provide,” said Hendrawan.
The lending partners on Pintarnya offer loans backed by collateral such as gold, electronics or motor vehicles, and over 200,000 users have accessed credit for needs such as healthcare expenses, school tuition fees and small business inventory. The funding will go towards enhancing Pintarnya’s capabilities and expand financial services access in Indonesia.
“We’re excited to partner with them as they scale this critical infrastructure for Indonesia’s economy,” noted Tushar Roy, partner at Square Peg.
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