Through the "Lending Robot"-Based Application, TunaiKita Targets Transactions of 40 Billion Rupiah in 2017

TunaiKita, as a digital startup part of Wecash Global, announced the launch of an application in the form of "lending robots" –a term for a lending automated investment service system peer-to-peer—for unsecured loan services. At the beginning of its launch, the service was only available to users in Jabodetabek. TunaiKita revealed that it will gradually expand to other areas.

Previously, the startup with the legal name PT Digital Tunai Kita has released a beta version of its application since May 2017. To date, more than 30 thousand smartphone users have downloaded the application. One of the advantages that this application wants to present is a concise loan application process with a simple user experience.

To apply for a loan, all processes are carried out using an application. Starting with determining the amount of the loan and the time period, then doing scan, self-portraits and other filings, to the end of the loan analysis and approval process.

TunaiKita wants to achieve the target of loan transactions of up to 40 billion rupiah by the end of 2017. One way to accelerate transaction growth is to release the TunaiKita iOS version of the application, which is currently under development. The hope is that they can reach more market segmentation of smartphone users.

"I received information that credit gaps in Indonesia it's a staggering $80 billion per year, so our plan to reach IDR 40 billion in loans would only cover 1/5000 [a fifth of a thousand] shortfalls. Still we have to start this from somewhere. I look forward to working more closely with our partner financial institutions to do more in the future," said TunaiKita CEO James Chan.

Co-founder moves quickly to maximize momentum

TunaiKita was founded by two Co-Founders, namely James Chan and Andry Huzain. James has career experience in venture capital and entrepreneurship. In parallel, James currently also serves as CEO of Wecash Southeast Asia and Chief Strategy Officer of Wecash Group. Meanwhile, his colleague Andry, who acts as COO of TunaiKita, previously had experience in several local companies, such as MNC Group, Detikcom, and Lazada. The board of commissioners is filled by the Managing Director of PT Kresna Graha Investama and the Group CEO of Wecash.

"The last six months have been dynamic times to meet all challenges. Starting from the design, development and testing process of Android applications, to developing Loan Management System applications from scratch, and preparing the operations team to be ready to serve customers in about 13 weeks. James and I are fortunate to have the opportunity to lead an extraordinary team," said TunaiKita COO Andry Huzain.

The TunaiKita team currently consists of 34 people with an office base in the Setiabudi Atrium area. To move quickly, in addition to application development, currently TunaiKita admits that it is aggressively developing teams on all fronts. From the traction that has existed since the beta launch, the monthly growth is claimed to reach 30% from the customer side. TunaiKita really wants to be Indonesia's Wecash.

Wecash itself in China is one of the qualified digital financial institutions. Currently it claims to have more than 100 million customers and cooperates with 30 financial institutions such as banks, multi-finance and peer-to-peer platforms. TunaiKita's parent company was founded three years ago, and currently has $7 billion in loan flows. The system adapted in TunaiKita is the same as that used by WeCash.