ALAMI Raises Funding from ParagonCorp

After pocketing funding pre-series B which East Ventures led last October, platform p2p loans sharia ALAMI return to investment. This time from Paragon Beneva Investama, which is an investment company under ParagonCorp. No mention of the investment value given.

As is known, ParagonCorp is a company that owns brand Popular cosmetic in Indonesia is Wardah.

Through this funding, ALAMI will utilize fresh funds to develop innovative financial technology products and expand access to ethical, fair, transparent and sustainable sharia financing.

ALAMI Co-Founder & CEO Dima Djani, this investment helps the company reach more MSMEs to access sharia-based financing. This was followed by the launch Hijra Bank beginning this December, which will be able to serve hundreds of millions of Indonesian Muslims.

"We believe the potential for the halal industry will continue to grow along with the significant growth in adoption from the Islamic finance sector in Indonesia and the world. This can be seen from the statistics on the consumption of halal products by 1,9 billion Muslims worldwide reaching $2 trillion, and the growth of Islamic financial assets of 7,8%, equivalent to $3,6 trillion in 2021."

Meanwhile, according to President Director of Paragon Beneva Investama Sari Chairunnisa, this synergy can support Indonesia to become the center of the world's halal industry, the real economy and the financial sector together to drive the Islamic economy.

"With this investment fund, ALAMI is optimistic that it will be able to create world-class sharia-based financial technology, reach the Muslim community and the wider community, through a digital platform that meets their financial service needs and becomes part of their lifestyle."

NATURAL positive growth

The company noted that so far it has distributed IDR 3,8 trillion to more than 10.000 MSME projects with the support of 111.000 funders.

ALAMI has several financing products, including Account Receivable (AR) Financing, Account Payable (AP) Financing, and Ecosystem Financing.

The ALAMI ecosystem covers 482 cities and regencies in 34 Indonesian provinces, both in terms of donors and beneficiaries through ongoing commercial and social projects.

The ALAMI team has now reached more than 484 people spread across various cities in Indonesia, as well as abroad, such as Singapore, England, and the United States, all of whom are Indonesian nationals. At the beginning, the ALAMI team consisted of 38 people.