1. Startups

Accial Capital Again Provides "Debt Funding" for Local Fintech, Turns to Pintek Receives 298 Billion Rupiah

Previously, provide debt funding to Cloud Tunai and Investree

Pintek as a startup developer of special financing services for education, today (11/1) announced the acquisition of debt funding worth $21 million or equivalent to 298 billion Rupiah from Accial Capital, an investor private debts from the United States.

Simply put, debt funding this allows a financing startup to have more loanable funds to channel. In other terms, incorporated investors are commonly referred to as "Actioncalendar institutions". This practice is quite common in the environment , given the need to accelerate growth and expansion.

Accial Capital itself is not a new investor in this area, previously they had injected their funds into Investree worth 213 billion Rupiah and Cloud Cash worth 290 billion Rupiah. The three startups invested in have different focuses; Pintek in education, Investree to MSMEs, and Awan Tunai to supply chain financing.

Local companies, particularly banks, have also started to become more involved in Actioncalendar institution. In terms of market share, the coverage is different, a lot of focus on the circle unbankable of which there are still very many in Indonesia – so that it becomes an opportunity to collaborate with banks.

Pintek yourself, towards the end of 2020 just now announced further funding from Finch Capital and Accion Venture Lab. The total funding that has been obtained by the company so far has reached 70 billion Rupiah. Since operating in 2018, Pintek has disbursed loans of up to 83,3 billion Rupiah.

More Coverage:

Besides Pintek, in Indonesia there are also several services fintech similar, targeting academics and educational institutions; including Danadidik, Cicil, and KoinPintar from Koinworks.

"Being in a challenging situation today, educational institutions need to adapt technology to support distance learning activities for students. However, due to lack of financial resources, the implementation of technology in the education sector is a challenge. We create products to help Indonesia's education ecosystem at this point critical at this time," said Pintek Co-Founder Ioann Fainsilber.

Are you sure to continue this transaction?
Yes
No
processing your transactions....
Transaction Failed
try Again

Sign up for our
newsletter

Subscribe Newsletter
Are you sure to continue this transaction?
Yes
No
processing your transactions....
Transaction Failed
try Again