Nium, a Singapore-based financial technology (fintech) infrastructure platform, recently partnered with E9pay, a digital remittance provider in South Korea, to allow E9pay clients to send remittances to and from India, Indonesia, the US, and other markets, including in Europe. These clients include
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MICROCAPITAL BRIEF: Asosiasi Fintech Pendanaan Bersama Indonesia (AFPI) Proposes Partnership with Government to Disburse $47b in COVID-19 Relief
An association of 156 financial technology (fintech) lenders, Asosiasi Fintech Pendanaan Bersama Indonesia (AFPI), is offering to work with the Indonesian government to distribute funds intended to offset the economic impacts of the COVID-19 pandemic. As of September 2020, the government has disbursed 25 percent
MICROCAPITAL BRIEF: Insurtech PasarPolis Raises $54m in Equity for Microinsurance in Indonesia
Indonesian insurance technology (insurtech) firm PasarPolis recently closed its Series B round of investment, having raised a total of USD 54 million from nine investors. The firm plans to use the new funding to:
MICROFINANCE PAPER WRAP-UP: “Impact of COVID-19 to MFIs in Indonesia: A Rapid Assessment,” published by Rise Research and Training
The authors of this paper conducted a “rapid assessment” of microfinance institutions (MFIs) that operate in ten provinces of Indonesia to: (1) identify key challenges that MFIs face due to the COVID-19 pandemic; and (2) define support mechanisms to sustain their business operations. The data is based on a survey of
MICROCAPITAL BRIEF: Accion Venture Lab Takes Equity Stake in Pintek of Indonesia, Provider of Online Loans to Students, Schools
Accion Venture Lab, a unit of US-based NGO Accion, recently placed an equity investment in Indonesian financial technology (fintech) firm Pintek. While the size and price of the stake remain confidential, the typical size of an investment by Accion Venture Lab is USD 300,000 to USD 500,000. Pintek lends to private universities, secondary schools and
MICROCAPITAL BRIEF: LinkAja, Ovo, Gojek’s GoPay May Help Facebook Launch Mobile Payments in Indonesia
Facebook, a US-based social networking company, is discussing launching a mobile payment service in Indonesia in partnership with three Indonesian mobile payment services: the government-backed
MICROCAPITAL BRIEF: World Bank to Loan $300m to Indonesia for Financial Sector Reform, Including Promoting Long-term Savings, Disaster Microinsurance
The World Bank recently agreed to loan USD 300 million to the government of Indonesia for “financial sector reforms that will help sustain economic growth and achieve the country’s shared prosperity goals.” Planned strategies include increasing the range of
MICROFINANCE PAPER WRAP-UP: “Micro-business 2.0: A New Generation of Women “Social Commerce” Entrepreneurs in India & Indonesia,” Published by Women’s World Banking (WWB)
By Sophie Theis, published by Women’s World Banking, November 2019, 18 pages, available at https://www.womensworldbanking.org/insights-and-impact/women-social-commerce-entrepreneurs-in-india-and-indonesia/
Female entrepreneurs in India and Indonesia historically have faced a multitude of challenges such as “low access to capital, restricted mobility, limitations on property rights, time poverty and gender norms.” In both countries, women own less than
MICROCAPITAL BRIEF: Invest In Visions’ IIV Mikrofinanzfonds Lends $49m to Microfinance Institutions in Ecuador, Egypt, Indonesia, Kazakhstan, Kosovo, Kyrgyzstan, Mexico and Timor-Leste – Including $10m to MFI Alternativa 19 del Sur
Germany-based Invest In Visions (IIV) recently loaned USD 10 million to Alternativa 19 del Sur, a microfinance institution (MFI) in Mexico. The investment is one of a group of loans totaling
MICROCAPITAL BRIEF: Nordic Microfinance Initiative (NMI) Managing $10m from Norway Climate and Environment Ministry to Boost Palm Farmers’ Productivity in Indonesia Without Cutting Rainforest
Through Norway’s International Climate and Forest Initiative, the Norwegian Ministry of Climate and Environment recently disbursed NOK 90 million (USD 10.3 million) for a microfinance and
MICROCAPITAL BRIEF: KOMIDA of Indonesia Borrows $2.4m in Local Currency from Grameen Credit Agricole Foundation for Microenterprise Lending for Rural Women
Koperasi Mitra Dhuafa (KOMIDA), a savings and loan cooperative in Indonesia, has secured a three-year loan worth approximately USD 2.4 million in local currency from the Grameen Credit Agricole (GCA) Foundation, whose head office is in Luxembourg. KOMIDA was established in 2004 to provide collateral-free loans to low-income women in rural areas. As of 2019, it serves 598,000 members through 237 offices. In addition to loans and savings,
MICROFINANCE EVENT: Mondato Summit Asia 2018: The Next Wave of Digital Services; December 12, 2018; Jakarta, Indonesia
The 2018 Mondato Summit Asia will explore how companies in Southeast and South Asia are repositioning themselves to take advantage of the rise in usage of mobile devices, which has lead to the proliferation of social media and electronic commerce in the region. The theme includes how digital finance and commerce (DFC) is being applied beyond basic financial services and how this translates into investment opportunities. Sample session topics are a Case Study of Digital Transformation & Re-Invention, Carrier Billing at the Heart of Digital Finance & Commerce, Expanding Market for Financial Services, Disruptive Innovation: the Case for Remittances, and Enabling New Business Models – Pushing the Bounds of Commercial Viability. The event also includes
MICROCAPITAL BRIEF: ResponsAbility Buys Equity Stake in C88, Fintech Expanding Access to Lending, Insurance via CekAja.com in Indonesia, eCompareMo.com in the Philippines
A private equity investment vehicle managed by responsAbility Investments AG, a Switzerland-based asset manager specializing in impact investments in developing countries, recently paid an undisclosed sum to buy a minority stake of undisclosed size in Singapore-based C88 Financial Technologies. C88 operates online platforms that help consumers in Indonesia and the Philippines compare and
MICROCAPITAL BRIEF: Syngenta PartnerGrow Academy Trains Retailers to Train Farmers in Indonesia
The local unit of Switzerland-based agriculture firm Syngenta International and the World Bank Group’s International Finance Corporation (IFC) recently announced they will scale up a pilot project through which they train sellers of agricultural inputs in Indonesia to give technical assistance to farmers. The program, known as the Syngenta PartnerGrow Academy, trains agricultural retailers on financial management, sales, customer service, and problem solving as well skills for advising their customers. Ernest E. Bethe III, Principal Operations Officer of IFC, described a key component as helping retailers dispense “advice by using a consultative selling
MICROCAPITAL BRIEF: Indonesia’s PT Veritra Sentosa Internasional (Treni) Launches Mobile Money App Paytren eMoney
PT Veritra Sentosa Internasional (Treni), an Indonesia-based digital financial service provider, recently debuted Paytren eMoney, a mobile application that allows users to pay bills, purchase travel, transfer money, and access the deposit and microinsurance services of multiple banks. Rudiantara,
MICROCAPITAL BRIEF: Blossom Finance Launches Shariah-compliant Microfinance Fund to Invest in BMT Microfinance Institutions in Indonesia via PBMT Ventura
US-based Blossom Finance recently launched a fund that will lend local-currency on the Indonesian island of Java via Permodalan BMT (PBMT) Ventura, a provider of technical and financial services to Baitul Maal wat Tamwil (BMTs), financial institutions that follow Shariah, Islamic law. PBMT Ventura invests in BMTs that mainly serve market vendors.
Jamil Abbas, a general manager at PBMT Ventura, said, “Ramadan is
MICROCAPITAL BRIEF: C-Quadrat’s Dual Return Vision Microfinance Fund Lends $9m to MFIs in Costa Rica, Ecuador, Indonesia
C-Quadrat Asset Management, a unit of Austria-based C-Quadrat Investment, disbursed a total of USD 9 million during April from its Dual Return Vision Microfinance Fund to microfinance institutions (MFIs) Costa Rica, Ecuador and Indonesia. Although the identities of the MFIs and the amount each borrowed remain confidential, C-Quadrat Asset Management tells MicroCapital that the Indonesian MFI
MICROCAPITAL BRIEF: Grameen Credit Agricole Foundation Lends $3.6m in Local Currency to Microfinance Institutions in Indonesia
The Luxembourg-based Grameen Credit Agricole Foundation (GCAF) recently informed MicroCapital that it has disbursed three-year loans denominated in local-currency to two microfinance institutions in Indonesia. Koperasi Mitra Dhuafa (Komida), a cooperative providing savings, loans and training services to women, borrowed the equivalent of