eFishery Cooperates with Investree, Strengthens eFisheryFund Capital Services

Investree and eFishery today (21/10) announced the inauguration of a strategic partnership related to the distribution of capital loans to partner farmers/cultivators. The funds prepared to reach IDR 30 billion will be distributed through the eFisheryFund funding platform.

eFisheryFund is a financing facility for farmers; funds obtained from partnerships with fintech or other financial companies. It includes the "Kabayan" (Kasih Pay Later) feature in the form of an installment program that can be used by cultivators to obtain eFishery technology products.

Funds from investree will also be distributed to other eFishery partners, including B2B consumers. The B2B consumers in question include fish agents and distributors, stockiest, and hospitality (hotels, restaurants and cafes).

In the upstream, the cultivators get capital in the form of fish feed and eFisheryFeeder equipment, while in the downstream, the fish agents get capital in the form of fish or shrimp which are harvested from the cultivators.

"This is something new for us. Given that Investree's largest loan portfolio so far is the creative industry, by partnering with eFishery, we hope to empower more SMEs engaged in fisheries or aquaculture," said Investree Co-Founder & CEO Adrian Gunadi .

Leverage IoT sensor data

Conventional and sharia schemes are also rolled out into loan options. Meanwhile, to maintain the quality of financing, Investree and eFishery implement due diligence and systems credit scoring strictly by looking at data from IoT eFishery and cross-checking the actual data in the field.

For the mechanism, farmers can apply for loans through the eFishery application in the eFisheryFund menu. The eFishery team will assess and determine whether they meet the requirements and criteria for obtaining financing. The results of this assessment are then submitted to the Investree for re-verification.

"This collaboration with Investree is expected to continue the values ​​brought by eFishery. Moreover, through the innovations we have developed, namely making inclusive technology and presenting fish from farmers so that it is easily accessible to all groups in various regions, we hope to be able to participate eradicate hunger in Indonesia," said CEO & Co-Founder of eFishery Gibran Huzaifah.

To date, there have been more than 500 farmers who have enjoyed the eFisheryFund program. Through this collaboration, Gibran targets up to 1000 partners by the end of 2020.

In addition to Investree, the financing program managed by eFishery has also partnered with several companies fintechlending, including ALAMI, Batuumbu, BRIS, iGrow, and Likui.id. This innovation has started early last year along with service introduction online groceries eFisheryFresh. The initiative was carried out after the company posted business growth of up to 300% in 2019, supported by expansion to 120 cities in Indonesia.

Financing through cooperation

Players continue to explore various fund distribution schemes fintech. Not only with eFishery, Investree has previously announced its collaboration with several parties to reach specific groups. For example with Pengadaan.com to reach 15 thousand SME vendors on its platform; there is also Bukalapak launching the BukaModal service; besides that also with Midtrans and Mbiz.

Other fintechs are also trying to expand their loan schemes. Take the example done CloudCash by cooperating with SayurBox to provide financing for farmers who distribute their crops in Sayurbox. Then there is also KoinWorks with its KoinGaji product, which distributes loans for early disbursement of employee salaries in collaboration with Gadjian, GreatDay, and Talenta.