Jakarta-based Komunal, an innovative player in the FinTech sector, has successfully raised an additional $5.5m in its extended Series A funding round.
This significant financial boost came from prominent investors, including Sumitomo Corporation, and was supported by existing backers such as AlphaTrio Sustainable Technology Fund, Skystar Capital, Sovereign’s Capital, Ozora, Gobi Partners, and JAFCO Asia, according to a LinkedIn post.
Founded in 2019, Komunal has made remarkable strides in the FinTech landscape. The company has set itself apart by being the first in Indonesia to introduce a rural bank product deposit app, a significant step in its mission to enhance financial inclusion in the region.
Komunal’s revolutionary approach has transformed the traditional banking model, connecting Micro, Small and Medium Enterprises (MSMEs) with potential funders, thereby fostering economic growth in Indonesia. Its diverse portfolio includes DepositoBPR, a ground-breaking platform that streamlines digital deposits across various rural banks (BPR) nationwide.
This funding will be pivotal in furthering Komunal’s mission of financial inclusion and innovation in Indonesia. By leveraging technology, Komunal aims to bridge the gap between rural banking and the modern financial ecosystem, thereby providing accessible and efficient financial services to underserved communities.
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