Digiasia Books "Debt Funding" 711 Billion Rupiah, Strengthens P2P Lending Unit

After pocketing Series B funding early 2020 ago, the company fintech Digiasia Bios has again completed funding through the debt funding worth $50 million or equivalent to 711,8 billion Rupiah. No further details were provided regarding which institutions were involved in lending/distributing the funds.

To DailySocial, Co-Founder & CEO Alexander Rusli said the fresh funds would later be used to strengthen business channels p2p loans.

"Currently channel has been running since the last 1,5 years, with this funding will ramp up our plan. We have provided loans to around 11 warungs," said Alex.

The additional capital will also be used to invest in strategic partners. For this plan Alex confirmed that it is still in the development stage and has just been released. They are still in the stage monitoring and observations first.

Digiasia was founded by former Indosat Ooredoo officials, namely Alexander Rusli (former CEO) and Prashant Gokarn (former Chief Digital & Service Officer) in 2018.

A number of Digiasia partnerships

From the side partnerships, Digiasia has partnered with a number of transportation companies to provide ease of transactions, such as the collaboration of KasPro (Digiasia's business unit) with Damri for certain routes in Bandung. On the other hand, the sale of B2B products from Metrodata is facilitated by KreditPro (Digiasia's business unit).

One of Digiasia's interesting portfolios is remittance services online. Strategic synergy with Mastercard can be RemitPro service strengthening or a new chapter to make one ecosystem of all products Existing Digiasia.

According to the company, RemitPro is already available in 60 countries with the support of 200 payment agents. RemitPro also collaborates with PT Eka Bakti Amerta Yoga as a partner in organizing remittance funds transfers, which allows disbursement of funds at 4.800 post offices and 10.000 BRI branches in Indonesia.