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

    Canadian Prime Minister Mark Carney speaking at a press conference in Ottawa, on Aug 22, after trade talks with the US collapsed.

    Canada’s fight with the US has far bigger stakes than trade

    Bali’s property market has been on a tear since the pandemic, with the tourism rebound and strong foreign demand driving prices higher.

    Can Bali swop beach capital for global capital without the skyscrapers?

    Stripe’s Tyler Bryson says he sees an opportunity for the firm to provide different billing systems for AI firms, as demand continuously increases.

    Stripe’s Apac business should grow faster than any other region, says its chief revenue officer

    “I consider myself lucky. I don’t consider myself successful,” says Ng Yih Pyng, the second-generation leader of Tomei Consolidated.

    What’s luck got to do with it? Everything, says Malaysian jewellery king Tomei’s chief

    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