Indonesian lending platform AwanTunai has picked up $20m in a new raise led by Accial Capital.
AwanTunai is the startup behind a point-of-sale financing services and mobile-based consumer credits to small businesses such as merchants and stores.
The company is set up to help underserved micro-businesses in Indonesia find affordable finaincing alternatives.
By utilising merchants’ transaction data, AwanTunai is able to estimate and offer credit for its users.
The company aims to use the new cash from the debt facility to grow its wholesaler supplier financing as well as AwanTempo, its purchase financing program.
AwanTunai is not the only Indonesian FinTech to have raised money over the past months.
For instance, PAYFAZZ raised a huge $53m Series B round in July. In April, InsurTech Qoala netted $13.5m in its Series A round.
Copyright ? 2020 FinTech Global
