Impact Credit Solution Rebranding to Nickel, Pockets 36 Billion Rupiah Funding

After official announce presence in Indonesia last year, Impact Credit Solution did rebranding menjadi Nickel. As previously known, they play a role in helping technology companies that want to provide capital loan capabilities by providing a bridge for access to banking.

Their main product "Single API ICS", allows clients to create loan products that meet specific customer needs, while providing access to low-cost bank capital to fund loans. Nickel also offers several products such as Nickel Lend, Nickel Fund, and Nickel Market.

Singapore-based Nickel was founded by Reinier Musters (CEO) and Mackenzie Tan (COO). To maximize their business in Indonesia, they have also appointed Dewi Wiranti as Country Head. Indonesia is considered to be a market that has great potential for them to present these solutions.

To DailySocial.id, Mackenzie said that by utilizing customers or merchants owned by technology companies on each platform, ICS via Single API bring technology and connections between two lending parties to customers.

"ICS is a financial technology company that serves MSME loans in Southeast Asia. We build embedded lending solutions which any technology company, P2P, or bank can use to create loan products."

Obtain Series A1 funding

Besides doing rebranding, Nickel has also received series A1 funding from a number of investors. It was recorded that Nickel succeeded in obtaining fresh funds worth $2,5 million or the equivalent of 36 billion Rupiah led by Vectr Fintech. Other investors involved in the funding this time include Patamar Capital, Mitra M Venture, Looking Glass Ventures, and the personal allocation of funds from the founder of Nickel, Mackenzie Tan.

When asked about this new funding, Mackenzie was reluctant to say anything further. He emphasized that this funding was the first stage of a larger fundraising round. More information will be shared by them once the larger funding round has been finalized.

Previously, Nikel had raised funding from leading banks and venture capital companies including BCA, Patamar Capital, 500 Startups, Integra Partners, M Venture Partners and others. Nickel has received support from the US Development Finance Corporation, USAID, and the Australian Department of Foreign Affairs and Trade.

At the end of 2021, Nikel also established a strategic collaboration with BCA bank, offering affordable financing for the Indonesian health sector during the pandemic. The strategic investment with BCA bank mentioned by Dewi Wiranti as Country Head in Indonesia is to enable them to provide the liquidity needed in the health sector, to ensure families in Indonesia receive adequate medical care and supplies during this pandemic.