Indonesia fintech lending company, Alami, received funding of around $1 million from four Singapore and Malaysia investors - Photo: Privacy

JAKARTA (TheInsiderStories) – Indonesia fintech lending company, Alami, received funding of around $1 million from four Singapore and Malaysia investors, the management said in a written statement on Wednesday (11/13). The company hopes to complete the funding round early next year.

CEO of Alami Dima Djani said that four investors consisted of three venture capitals, namely Golden Gate Ventures, Agaeti Ventures, RHL Ventures and the remaining of Citibank Private Banking’ Ceo, Aamir Rahim.

Golden Gate Ventures leads this funding round. Singapore’s venture capital has invested in 30 companies from Asian countries since 2011. In Indonesia, the company has invested in Gojek, Tanihub, Alodokter, Sampingan, DuitPintar.com, Ruma, Printerous, Teman Jalan, and Gadjian with investments around $1 million to $5 million. Whereas RHL Ventures are from Malaysia and Agaeti Ventures are based in Indonesia.

Djani said the investors were interested in investing in Alami because it had a mature business plan. This is also supported by the large potential of the Islamic market in Indonesia.

“For the first time, Indonesia’s sharia startup successfully invited investors to invest,” said Djani, hoping there are more investors who want to invest their capital in Indonesian start-up companies.

Currently, Alami has disbursed loans of more than Rp55 billion ($3.92 million). He targeted, the company could provide financing of Rp80 billion until the end of this year. While next year, the company is targeting a loan of Rp200 billion, supported by funding from investors.

To date, the level of Alami non-performing loans is 0 percent. In terms of risk mitigation, the company applies a credit scoring system that is claimed to be comprehensive. Alami also verifies customers from the quantitative side such as financial statements and business accounts. In addition, there is a field visit to the place of business to ensure the credibility of prospective borrowers.

In terms of transaction security, Alami cooperates with Bank Permata Syariah. Therefore, the money paid by the borrower will first enter the deposit account. Djani claims, operations are carried out with sharia contracts, in accordance with the fatwa of the National Sharia Council.

Earlier, Indonesian e-commerce site Jualo.com raised fresh funding $30 million from Singapore-based automotive marketplace Carro as part of its Series B round. The latest funds injection pushes the local startup’s total amount raised to $100 million since its inception in 2015.

Joined the latest round are B Capital Group, Singtel Innov8, and Golden Gate Ventures, as well as new investors such as Softbank Ventures Asia, EDBI, Dietrich Foundation, and Hanhwa Asset Management, said the company.

Carro’s CEO and founder Aaron Tan said the acquisition would boost the reach of his company’s technology platform in Southeast Asia. He added this also underscores their commitment to providing better automotive trading experiences to Indonesians and propels its growth in Southeast Asia.

While Jualo got a seed investment from Mountain Kejora and Alpha JWC Ventures. The startup, which also has operations in Thailand and Indonesia, processed transactions exceeding $500 million last year, compared to $250 million in 2017 and $120 million in 2016.

US$1=Rp14,000

Written by Staff Editor, Email: theinsiderstories@gmail.com