Finfra, a platform for businesses seeking to launch white-labelled lending services in Indonesia, has disclosed a successful funding round.
The company has secured an impressive $1m investment, further solidifying its footprint in the dynamic financial market of Southeast Asia.
The capital injection was an outcome of a concerted effort from multiple investors including DSX Ventures and Seedstars International Ventures. Additionally, regional FinTech authorities Cento Ventures and Fintech Nation, Baltic-based startup incubators FirstPick and BADideas Fund, and Silicon Valley’s Hustle Fund also contributed to the funding round.
At its core, Finfra empowers underbanked businesses and digital platforms to seamlessly integrate financial products and services, especially credit lending, into their own operational channels. The company utilises a comprehensive top-to-bottom strategy to ensure full regulatory compliance, whilst providing an all-encompassing loan management system, portfolio analytics, scoring, and access to debt capital.
With the newly raised funds, Finfra is eager to fast-track its product development process and expand its teams focusing on engineering, data, and finance. The company is poised to bolster its revenue and cement its position as a market leader within the Southeast Asian embedded lending sector.
Indonesia has experienced a digital transformation over the past decade, largely stimulated by substantial venture capital investment in e-commerce, logistics, and financial services. Nevertheless, despite the country’s growing internet economy, access to credit remains disproportionately low for both businesses and individuals. This is where Finfra steps in, providing sophisticated and business-friendly FinTech solutions that promote financial inclusion, especially in areas traditional banks may be reluctant to serve.
Finfra’s CEO Markus Prommik stated: “As entrepreneurs ourselves, we understand how challenging it is to build, grow, and maintain a business on its own terms. Expanding to offer lending as a service is a highly attractive prospect to many companies but a huge undertaking in its own right. Rather than do it themselves, companies can use our APIs to solve the crucial unit economics of lending. There’s real demand for comprehensive credit-centric services and lending among Indonesian small businesses, particularly as it relates to providing lending as a service. We’re determined to make it not only feasible but genuinely easy for Southeast Asian companies to do so.”
This round marks a significant milestone for the FinTech company. Finfra continues to harness the potential of Indonesia’s financial market, ensuring inclusivity and accessibility for the local businesses and individuals alike.
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
