1. Startups

InfinID Reportedly Raising Series A Funding Led by Argor

So far the funds raised have reached IDR 88 billion, also supported by Insignia Venture Partners and a number of angel investors

Startups fintech InfinID is reportedly raising series A funding led by Argor (Go-Ventures). So far, Insignia Venture Partners is also involved, followed by a number angel investors. From data reported to the regulator, as quoted from Alternative.pe, the total funds collected reached $5,42 million or the equivalent of IDR 88 billion.

DailySocial.id have tried to confirm this to founderInfinID, but they chose not to comment on this news.

InfinID Products

InfinID distributes loans using property certificate collateral. The company acts as a liaison between potential debtors and financial services institutions (LJK) which provide loans guaranteed by property certificates.

Prospective debtors will be assisted in getting loans that suit their needs. On the other hand, this company helps LJKs in managing the application, evaluation, service and monitoring processes with digital technology. The LJK products used by InfinID are multipurpose credit and business credit guaranteed by property certificates.

Loan limits available at InfinID starting from IDR 100 million with interest ranging from 12%-18% per year. The tenor also varies, some are 3-5 years, some are long term, namely 15-20 years.

The company offers three loan products: InfinID FIX, InfinID FLEX, and InfinID FLIP. InfinID FIX is a multi-purpose loan with large funds, low interest and a fixed payment scheme. InfinID FLEX offers credit with more affordable limits and flexibility, such as lower monthly payments. InfinID FLIP is a solution for refinancing (takeover) KPR/multipurpose credit/business credit to other financial institutions with lower interest rates, longer terms and other conveniences.

InfinID has collaborated with a number of financing institutions such as BPR Artharindo, BPR Daya Perdana Nusantara, BPR Rifi Maligi, Bank Sampoerna, and Maybank Syariah.

With this business model, InfinID is currently registered at Digital Financial Innovation (IKD) Financing Agent cluster which is a platform regulatory sandbox under OJK.

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