Claims for Business Growth, Hand in Hand to Complete Series A Fundraising Immediately

Platform peer-to-peerlendingHoldHand last year 2021 managed to disburse loans of up to Rp40,5 billion, an increase of 10 times from the previous year.

In the same year, GandengTangan also obtained a licensed status from the OJK. Even though the 2020 pandemic disrupted the growth of Hand in Hand, in 2021 they have recorded a record number of loan disbursements since their inception.

Deepen cooperation with banks

To DailySocial.id, Co-Founder & CEO of GandengTangan Jezzie Setiawan said the startup has added strategic partnerships with various parties. One of them is with Bank Sulselbar. The cooperation will proceed to a deeper integration stage; earlier this year the GandengTangan platform will be used in 32 branches of Bank Sulselbar.

"We have carried out socialization for roll out in 32 branches of Bank Sulselbar. It is hoped that this strategic partnership will provide opportunities for MSMEs to obtain loans from banks," said Jezzie.

Although it is quite a difficult process that must be passed by the platform fintech such as GandengTangan to be able to establish strategic cooperation with regional banks, but this opportunity is considered to be able to directly target MSME actors. Due to the high risk of banks to provide loans to micro-enterprises, collaboration with the platform fintech very relevant. GandengTangan has also collaborated with BRI. Currently with BRI has also been carried out piloting in Tasikmalaya.

HandGand already owns 10 Actioncalendar institution including banks and venture capital firms; and 20 thousand Actioncalendar from among individuals. For Actioncalendar Individuals come from various regions in Indonesia. While for Actioncalendar institutions, mostly still on the islands of Java and West Sulawesi. GandengTangan also currently has a category borrowers from micro to medium-sized MSME actors.

"For borrowers there are currently around 25 thousand recorded throughout Indonesia. We managed to keep the NPL at 3% and TKB90 around 97%," said Jezzie.

The commitment to become a safe and protected platform is realized by Hand in hand by strengthening the risk management system. The steps taken are the use of various payment security methods and apply the payment model credit scoring more comprehensive.

New innovations and fundraising

In particular, GandengTangan currently has 3 excellent products. Among them are for micro MSME actors who use cooperatives to digital platforms as their partners, then there are also invoice financing, and the last is to disburse a loan limit of Rp250 million with an interest rate of 6% per year. This service can be realized thanks to the support of PT Bahana Artha Ventura, which is also an investor of GandengTangan.

While for the scheme invoice financing, SMEs can make invoice has not been paid as collateral for funding with a limit of Rp2 billion. Individual businesses can also apply for funding with a limit of IDR 25 million through GandengTangan thanks to partnerships with cooperatives and microfinance institutions (MFIs).

"This year we are focusing on developing a series of funding innovations to make it easier for MSMEs to run their business. We have started some of these innovations at the beginning of this year," said Jezzie.

Another plan that wants to be launched is to raise funds for the series A stage. Still in the finalization process, GandengTangan targets to be able to pocket the fresh funds in the second quarter of this year. Later, the funding will be used by GandengTangan to expand collaboration by developing API technology, so that it can be embedded in various platforms.

Currently, GandengTangan has a special application for Actioncalendar. While for borrowers provided the option of access via the website or through cooperative partners to digital platforms that establish strategic partnerships with GandengTangan.

"If 2021 is the year of the rise of MSMEs, this year we hope MSMEs can grow even more. GandengTangan will always be ready to accompany him to achieve success, “concluded Jezzie.

Throughout 2021 (until November), according to statistics compiled by OJK, platforms has channeled around IDR 77,5 trillion of funds to productive sectors in various fields. Service It is indeed expected to be an alternative to capital financing in the midst of the rapid growth of the MSME sector in Indonesia.