Modal Rakyat Collaborates with Bank Mandiri and Meratus to Deepen Penetration into the B2B Segment

Bank Mandiri announced a bailout credit facility for MSMEs who are consumers of the Meratus Group, shipping and logistics companies to finance the operations of container sea transportation services. Providing this facility is done by attracting startups p2p loansPeople's Capital, through the product 'smart financing'.

Bank Mandiri SVP SME Banking Alexander Dippo said that the synergy between these three parties is one of the company's strategies to expand access to financing through digital means, while increasing credit distribution in the logistics industry sector in the country.

“Bank Mandiri will support working capital credit needs customer Meratus Group, as well as supporting Meratus Group to improve relationship with customer, as well as improving services close-loop-ecosystem. Through products smart financing "This, Meratus Group customers can get credit facilities that are processed digitally, without having to come to the bank," he said at the signing of the cooperation agreement in Jakarta, Monday (22/1).

Bank Mandiri as super banker from Modal Rakyat is committed to preparing a credit facility of IDR 200 billion this year for the Meratus Group. It is possible that this will increase as the future continues.

For the record, throughout 2023, Bank Mandiri's total credit distribution will be through collaboration with digital companies and fintechp2p loans has reached IDR 3,58 trillion to more than 266 thousand debtors.

Meratus Group Chief Commercial Officer Alex Hadinoto explained further, product smart financing This is needed by Meratus Group consumers who are often hampered by business operations due to problems cash flow. Therefore, the company initiated it as a form of service to its loyal consumers.

"Partners Our business is always growing, but sometimes there are fluctuations. When there is a sudden increase in business scale, there are issues cash flow. "We have known about this issue for a long time, but because we are not a financial institution, we need a partner," he said.

In product type invoice-based financing Currently, Meratus will select prospective business consumers who are worthy of obtaining credit facilities, based on their profile and history. If you pass, the maximum credit limit provided is IDR 2 billion, without collateral and competitive interest. There will be a dashboard available that they can access and choose the type of payment they want, smart financing or pay by ToP (term of payment).

"It is hoped that this collaboration will continue with many subsequent developments, whether increasing limits or other needs, because we are connected with many parties who have various financial needs related to their business," he concluded.

Get into more B2B ecosystems

CEO People's Capital Christian Hanggra said that his startup acts as an intermediary in providing credit facilities between Bank Mandiri and Meratus Group. In this way, the process of applying to disbursing credit has been completely digitized.

It doesn't stop there, Modal Rakyat will enter more B2B ecosystems, along with the company's focus on playing in the productive financing sector. Also, in order to maintain higher quality financing distribution amidst conditions that are still challenging post-pandemic and the political year.

"We will strengthen it assessment borrowers, but will strengthen [assessment] again beg and strategic partners begbecause we will strengthen the business invoice financing and PO financing, like with Meratus," he explained.

Throughout last year, Modal Rakyat has distributed financing of up to IDR 1,4 trillion. It is claimed that TWP90 can be maintained in the range of 2%-3%. Majority borrowers operates in the trade, logistics and business segments online on the platform E-commerce.

It says, total borrowers in Modal Rakyat reaches more than 200 corporate clients and individual entrepreneurs of more than 10 thousand people. Meanwhile, Actioncalendar dominated by corporate circles, one of which is Bank Mandiri.

Christian targets that throughout this year the company can increase distribution to IDR 1,8 trillion. By year-to-date (YTD) as of today, outstanding in the People's Capital reached IDR 30 billion.

Christian was newly appointed as CEO of Modal Rakyat as of December 2023, replacing Hendoko Kwik who previously led Modal Rakyat since December 2019.